China Biotechs Now Drive a Third of Global Biopharma Out‑Licensing Deals

Published on Fierce Biotech

A recent Jefferies report reveals that in Q1 2025, China-based biotechs accounted for 32 percent of global out-licensing deal value, up from just 21 percent in both 2023 and 2024. The surge reflects Chinese firms offering credible, first-in-class drug candidates, especially in oncology, autoimmune, and metabolic disease, at significantly lower development costs. Licensing agreements include major partnerships with BMS, Pfizer, Merck, Roche, and Gilead. Despite geopolitical tensions, this trend signals a strategic realignment in how US and Western pharms source innovation.

Read the full article on Fierce Biotech:

👉 China biotechs ‘reshaping’ US biopharma as outlicensing deals rise 11%: Jefferies report

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