At WCLC 2025 (Sep 6–9), China-origin BNT327 (pumitamig), a PD-L1/VEGF-A bispecific, shows promising efficacy in first-line ES-SCLC. Abstract data were published Aug 20, 2025, marking the first global dataset for this China-origin therapy.
semaglutide biosimilars
China’s semaglutide market is heading toward $61B by 2032, unleashing a biosimilar frenzy. Over 25 drugmakers have filed 90+ applications, eight are nearing approval, and a pending patent ruling could trigger price wars that reshape diabetes and obesity care.
Oral GLP-1
China surges in the oral GLP-1 race: 25+ assets (HRS-7535, HDM1002) and key Merck, Madrigal & AstraZeneca deals set up a 2026–27 shakeup. Novo’s oral semaglutide nears approval (16.6% WL), Lilly’s orforglipron shows mixed Phase 3 (12% WL in obesity, 10.5% WL + 1.8% HbA1c in T2D), Pfizer exits.
China Pharma Market 2025
China Pharma H1 2025: AstraZeneca, Roche, Novo & Lilly lead via oncology & GLP-1 hits; Merck, Sanofi & Pfizer struggle with rivals, VBP & patents. Multichannel + partnerships key.
China online pharmacy
China’s online pharmacy sales hit ¥715B in 2024. Semaglutide surged 142%, overtaking sildenafil as the #1 product. Local players like Xingsha and Sunshine Mandi joined AstraZeneca, Novo Nordisk, and Pfizer among the top sellers
China biotech IPO
China’s biotech IPOs roar back in 2025, led by Innogen’s 285% debut and gains from Duality and Leads Biolabs; U.S. IPOs like Caris and Omada rise more cautiously.
global pricing gap
Ryzneuta® (efbemalenograstim alfa) highlights a 13–14× U.S.–China pricing gap, illustrating the challenges and opportunities for Chinese biologics in global markets.
B7-H3 ADC
QLC5508 (MHB088C) shows promising Phase 1 efficacy and manageable safety in previously treated ES-SCLC patients. Qilu Pharmaceutical secures exclusive rights to develop and commercialize the ADC in Greater China.
DPP-1 inhibitor
Brensocatib earns FDA approval for NCFB, marking the first validated DPP1 inhibitor. We review the global and China pipelines, including HSK31858 and XH-S004.
FDA approvals
Insmed’s FDA approval of BRINSUPRI™ (brensocatib) for non-cystic fibrosis bronchiectasis marks a new era for neutrophil-targeted therapies. Originally discovered by AstraZeneca, brensocatib's success could reshape China’s respiratory drug innovation and investment landscape.
National Reimbursement Drug List
On August 12, 2025, NHSA published the initial review results for China’s 2025 NRDL and Commercial Innovative Drug List, marking the first step toward expanded reimbursement access for innovative therapies.
China Pharma
China’s pharma industry transformed (2015–2024) into a global hub with 4,382 drug candidates, $9.26B in BsAb deals, and 2025 FDA approvals like Sunvozertinib, Taletrectinib, and Penpulimab. With $130.4B in PD-1/VEGF and other deals, plus CGT advances, it’s reshaping pharma.