After China’s cross-border deals for innovative drugs hit a record US$110 billion in the first half of 2026, the sector is now pivoting towards artificial intelligence-powered candidates to drive the next wave of transactions.
China accounted for about 30 per cent of all new drugs currently under development worldwide, ranking second globally, according to Lan Gongtao, deputy director general of the Department of Drug Registration at the National Medical Products Administration.
China’s pharmaceutical industry had risen to the top tier globally in innovation efficiency, Lan said at a forum over the weekend.
In the first six months, the 81 deals sealed by June 30 had already equalled about 80 per cent of last year’s full total, according to Chinese state media reports on Monday.
The deals covered 10 therapeutic areas, including oncology, metabolic diseases, immunology and neurology, the reports said. Buyers came from 20 countries and regions, mainly the US, the UK, France and Italy.
Momentum has carried into July. CSPC Pharmaceutical Group signed a new collaboration with AstraZeneca on July 2, leveraging CSPC’s proprietary AI molecular design platform to jointly discover and develop small nucleic acid drug candidates for two targets.
