China’s pharmaceutical industry is experiencing a significant surge in out-licensing agreements, with companies like CSPC Pharmaceutical and RemeGen securing deals worth $18.5 billion and $5.6 billion, respectively. Haisco Pharmaceutical recently partnered with AbbVie for rights to develop pain drugs outside China, marking a shift towards higher-value innovation as Chinese biotech firms move beyond low-cost manufacturing. This trend is intensified by advancements in artificial intelligence in drug discovery, suggesting that China’s role in the global pharmaceutical value chain could expand significantly in the next few years.
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Link to original article source: https://www.scmp.com/business/china-business/article/3350421/chinas-biotech-firms-shift-gears-can-ai-floor-accelerator
