Chinese Biotech Exports Surge to $137.7B as U.S. Drugmakers Rush to Acquire Chinese Candidates
China's biotech overseas technology transfer agreements reached $137.7 billion in 2025, nearly ten times the 2021 figure, as global drugmakers rush to acquire Chinese candidates. BeiGene's Brukinsa surpassed $4 billion in global sales, while Pfizer agreed to a deal with Innovent Biologics worth up to $10.5 billion. U.S. lawmakers are raising security concerns about growing dependence on Chinese biotech.