September was a slow month in pharmaceutical licensing deals, only seven. But, despite low volume, the five deals that were disclosed amounted to a total of $2.083 billion, ranking September third below March and May in terms of deal value.
In-licensing activity in China’s biotech sector has stayed weak in the second quarter of 2022, with the number of in-licensing deals dropping to a new low in June. Cash-strapped Chinese drugmakers became more prudent in buying and sought big buyers for their assets instead.
The biotech deal making space in May 2022 saw Chinese drugmakers licensing out their assets for as much as a billion dollars. MSD and Turning Point Therapeutics gained China-originated cancer drugs in deals worth $2.63 billion.
Huadong Medicine announced a series of three in-licensing deals with a combined value of $1.667 billion, pushing the total deal value for February to $1.883 billion, edging over the $1.681 billion the previous month.