- Chinese biopharma stocks jumped in Hong Kong, with Innovent Biologics up 6%, Akeso up 8%, and the Hang Seng Biotech Index up more than 5%.
- Almost half of U.S. overseas drug licensing deals in 2025 were with Chinese companies; China signed a record $110 billion in out-licensing deals in H1 2026.
- Pfizer's $10.5 billion partnership with Innovent in May covers 12 oncology programs, illustrating U.S. pharma's exposure to Chinese drug innovation.
Quotes
“largely immune”
“ride on a high tide”