China drug licensing deals 2025: Record-breaking $135.7B surge in biotech exports
Chinese drug makers reached a record US$135.7 billion in licensing deals in 2025, more than doubling from 2024. Read how Chinese biotech is reshaping the global market.
China's biotech sector is no longer just a follower—it's leading the global licensing-out race. In a historic year for the industry, licensing deals by Chinese drug makers more than doubled in 2025, hitting an all-time high. Global pharmaceutical giants are increasingly betting on Chinese innovation, pouring tens of billions into mainland and Hong Kong-listed firms to secure next-generation therapies.
China drug licensing deals 2025: Analysis of the record-breaking year
According to data from the National Medical Products Administration (NMPA), as reported by state media, a staggering 157 out-licensing deals were signed last year. These transactions reached a combined value of US$135.7 billion, representing a massive jump from 94 deals worth US$51.9 billion in 2024.
| Metric | 2024 | 2025 |
|---|---|---|
| Number of Deals | 94 | 157 |
| Total Value (USD) | $51.9 Billion | $135.7 Billion |
| Growth Rate | - | Approx. 161% |
Why Big Pharma is betting on Chinese innovation
The surge is propelled by dozens of multibillion-dollar agreements between global pharmaceutical giants and firms listed in Hong Kong and mainland China. These deals primarily focus on innovative drug candidates in high-growth areas like oncology and immunology, signaling that Chinese R&D is now meeting rigorous global standards.
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