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The annual transaction volume of China's innovative drug out-licensing has exceeded 100 billion US dollars, increasing nearly tenfold in four years.
Gelonghui February 14 | According to Yicai, new drug out-licensing deals involving Sino Biopharm have reached a new historical high in 2025, surpassing the $100 billion threshold. Based on the latest data from Pharmcube, Chinese companies signed out-licensing agreements totaling $137.7 billion in 2025, nearly tenfold the amount in 2021, with the number of deals reaching 186. Global pharmaceutical giants including Novartis, AstraZeneca, and GSK signed several major agreements with Chinese enterprises last year. Tom Bashar, Head of Asia-Pacific M&A at Bank of America Securities (
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