Outbound Deals
China’s $60B Out-Licensing Boom in 2025 Positions Biotech as Global Powerhouse in Oncology & Obesity
Chinese biopharmas may reach ~$60B in outbound deals by end-2025, led by Hengrui–GSK, 3SBio–Pfizer, XtalPi–DoveTree, and Hansoh–Regeneron. Oncology, obesity, and AI fuel China’s rise as a global licensing powerhouse, with top deals and trends highlighted.