{
  "id": 9872615,
  "title": "China’s biotech firms move up value chain as drug deals evolve beyond licensing: analysts",
  "url": "https://urgent.news/2026/09/26/chinas-biotech-firms-move-up-value-chain-as-drug-deals-evolve-beyond-9872615",
  "topic": "business",
  "section": "Business",
  "published": "2026-09-26T01:00:08.000Z",
  "source": {
    "name": "SCMP Tech",
    "slug": "scmp-tech",
    "url": "https://www.scmp.com/tech/tech-trends/article/3368781/chinas-biotech-firms-move-value-chain-drug-deals-evolve-beyond-licensing-analysts"
  },
  "original_language": "en",
  "account": "Chinese biotech firms are increasingly moving up the value chain in drug development, shifting from mere licensing to strategic collaborations and partnerships, according to analysts. Beijing-based InnoCare Pharma recently signed a deal with US giant Eli Lilly that could be worth up to $3.35 billion. The collaboration involves InnoCare using its drug discovery platform to identify and advance compounds against up to five targets, addressing critical unmet medical needs. This transition from licensing to co-development reflects China's transformation from a follower to a global innovation leader, analysts say. Cui Cui, head of Asia healthcare research at Jefferies, predicts more globally significant drug-development partnerships from China, citing private discussions at the APAC Healthcare Conference in Shanghai. While Chinese biotech companies initially relied on out-licensing, they are now increasingly moving towards co-development arrangements and platform partnerships. Eli Lilly will pay InnoCare $100 million upfront, with potential milestone payments of up to $3.25 billion. Jialin Zhang, Nomura, notes that recent deals like Jiangsu Hengrui Pharmaceutical's collaboration with Bristol Myers Squibb worth up to $15.2 billion further demonstrate the rapid expansion of China's biotech firms in global deal making.",
  "summary": "Chinese biotech deal making is moving beyond the licensing of individual drug candidates, as the country transforms from a follower to a global innovation leader, according to analysts. The latest transaction underscores that shift. Beijing-based cancer drug developer InnoCare Pharma said on Thursday that it had entered into a strategic research collaboration and licensing agreement with US…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "SCMP Business",
        "title": "China’s biotech firms move up value chain as drug deals evolve beyond licensing: analysts",
        "url": "https://urgent.news/2026/09/26/chinas-biotech-firms-move-up-value-chain-as-drug-deals-evolve-beyond",
        "published": "2026-09-26T01:00:08.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}