Chinese drugmakers struck 14 licensing deals in October with five of them exceeding $100 million. Hansoh Pharma announced two big deals worth nearly $2 billion in total to mark its foray into siRNA therapeutics.
Among the 22 deals Chinese drugmakers closed in September, 14 were worth $2.566 billion. Everest Medicines and Innovent Biologics dominated the dealmaking space with deals worth $1.06 billion and $529 million, respectively, representing 62% of the total value of all disclosed deals.
For the first time, Chinese drugmakers have won more approvals for cancer drugs than their foreign peers, but drug development is too concentrated in oncology and certain targets, regulators said at two recent conferences.
Tony Ren, J.P. Morgan’s new head of Greater China Healthcare Research, predicts that Chinese drugmakers will make more out-licensing deals, generate revenue on the global market, and even start acquiring their foreign peers, he told PharmaDJ.