How China’s rise as a biopharma innovation hub is reshaping global dealmaking strategies

China is becoming an increasingly important component of global pharmaceutical companies' strategies due to faster and cheaper clinical trials. In 2025, the value of China's out-licensing deals reached $115 billion, with almost half of all US in-licensing deals now coming from China. Major pharmaceutical companies such as Bristol Myers Squibb and AstraZeneca signed record-breaking deals with Chinese partners, including AstraZeneca's agreement with CSPC valued at up to $18.5 billion. China has established itself as the world's second-largest developer of innovative drugs. At the same time, the regulatory environment is tightening, particularly through the Biotech Investment National Security Act and increased scrutiny of Chinese drugs intended for the US market. Pharmaceutical organizations must objectively assess their position regarding the Chinese market and develop a concrete plan for next steps.