Global drugmakers are stepping up their search for China‑developed experimental medicines as they cut costs ahead of patent expirations, with industry analysts predicting licensing deals will surge to a fresh record this year. The value of such deals signed by ‌companies in the greater China region – which includes Hong Kong, Macau and Taiwan – rose nearly tenfold last year from 2021 to an unprecedented $137.7 billion, according ‌to data provider Pharmcube. Mainland China has overwhelmingly been at the centre of that search, with global drugmakers including Novartis, Merck and GSK inking major agreements last year. “The total value of these licensing-out deals is on track ​to double again over the next 18-24 months,” said Tom Barsha, head of Asia Pacific M&A at BofA Securities, who has advised on such deals.

Full report : China biotech licensing boom to hit record in 2026 as pipeline swells.