Core Insights - The total value of cross-border licensing agreements signed by Chinese pharmaceutical companies reached a record high of $135.7 billion in 2025, marking a significant increase from $51.9 billion in 2024 [2] - The industry completed 157 such transactions in 2025, a substantial rise from 94 transactions in the previous year [2] - The surge in licensing agreements highlights China's evolving role as a crucial supply center in the global pharmaceutical industry, with multinational companies increasingly seeking assets in rapidly growing fields such as antibody-drug conjugates (ADCs) and immunotherapy [2] Industry Dynamics - The $135.7 billion in transaction value was primarily driven by 54 Chinese pharmaceutical companies, with the top 10 companies accounting for 60% of the total value [2] - The buyers of these licensing agreements are mainly multinational pharmaceutical companies, indicating a strong interest in China's pharmaceutical capabilities [2] - Investors and industry insiders note that years of investment have led to a more mature Chinese pharmaceutical ecosystem, characterized by enhanced production reserves, talent density, and supply chain capabilities [2]
中国制药商跨境许可交易金额达到1,350亿美元，创历史新高
Shang Wu Bu Wang Zhan·2026-01-23 16:36