This is the second installment in a new series where BioPharma Dive uses data visualization to recap what’s going on across the industry. Today, we’re looking at trends in licensing deals with Chinese biotechs, Lilly’s dealmaking spree and the rise and fall of stock prices for Alumis and Ultragenyx.
Licensing deals between Chinese biotechnology companies and U.S. or Europe-based drug developers are showing no signs of slowing down, even as questions abound about maintaining the West’s competitive edge in drugmaking.
More than 100 such deals have been inked since the beginning of 2025. The number announced per quarter hit its peak in the first three months of 2026, buoyed by agreements from large firms like AstraZeneca, AbbVie and Roche, which all furnished upfront payments worth at least $550 million in pursuit of new cancer and obesity drugs.
GSK and Roche kept the trend going this week, with their respective licensing agreements with Hutchmed and Simcere Pharmaceutical.
Deals with Chinese biotechs by quarter
