Licensing deals with Chinese biotech stay strong as big pharma pours $550M+ into cancer and obesity pipelines

Western drug developers continue to sign licensing agreements with Chinese biotechnology firms at a steady pace, according to recent data visualizations.

More than 100 such deals have been announced since the start of 2025, with the quarterly peak occurring in the first three months of 2026. Large companies including AstraZeneca, AbbVie and Roche each committed upfront payments of at least $550 million to secure access to new cancer and obesity candidates.

The momentum persisted this week as GSK finalized a licensing pact with Hutchmed and Roche signed a similar deal with Simcere Pharmaceutical, underscoring the ongoing interest in Chinese innovation.

At the same time, investors retreated from mid‑cap biotechs Alumis and Ultragenyx after their stock prices fell, while Eli Lilly’s dealmaking activity continues to outpace peers in the sector.