Xin Lang Cai Jing·2025-09-11 08:15Core Viewpoint - The Trump administration is considering strict restrictions on the flow of innovative drug pipelines from China, citing concerns over national security and the exploitation of the U.S. regulatory system by foreign entities [3][5]. Group 1: Proposed Policies - A draft executive order is circulating among major pharmaceutical companies and biotech investors, proposing stricter scrutiny for U.S. pharmaceutical companies seeking drug licenses from Chinese biotech firms, requiring evaluations by the National Security Council [3][5]. - The FDA would need to conduct more rigorous reviews of clinical trial data from China, with companies submitting such data facing higher regulatory fees [5][6]. Group 2: Market Impact - Following the news, Chinese biotech stocks experienced significant declines, with BeiGene dropping 10.59% and Zai Lab falling 9.81%, contributing to a 9.91% drop in the overall U.S. listed Chinese pharmaceutical sector [4][5]. Group 3: Industry Trends - Recent months have seen a surge in innovative drug BD transactions from China, with Pfizer prepaying $1.25 billion to a Chinese company for a drug license and AstraZeneca paying $110 million for collaboration on chronic disease drugs [5]. - A report from Jefferies indicated that by Q1 2025, 32% of the total value of biotech licensing deals will come from China, up from 21% in 2023 and 2024, highlighting China's growing influence in the global biopharmaceutical landscape [7][8]. Group 4: Government Stance - The White House has denied actively considering the draft executive order, while discussions are ongoing about expediting the FDA review process to allow pharmaceutical companies to initiate clinical trials more quickly [7][8]. - The Trump administration has previously issued a memo titled "America First Investment Policy," focusing on limiting foreign investment in strategic industries, with China being a primary concern [8][9].