Chinese biotech firms saw a record $60 billion in cross-border outlicensing deals in Q1 2026, driven by growing interest from multinational pharmaceutical companies. This represents a 73% jump from the same period last year.

The cross-border outlicensing activities of Chinese biotech firms reached a record transaction value of US$60 billion in the first quarter of 2026, driven by multinational pharmaceutical companies’ growing appetite for the country’s promising drug candidates. The deal value represented a 73 per cent jump from the same period a year earlier, and accounted for nearly half of the total US$135.7 billion worth of agreements signed throughout 2025, the National Medical Products Administration (NMPA).....