In a new landmark, Chinese firm BeiGene has posted greater quarterly sales of its cancer drug Brukinsa in the US than in China for the first time. Meanwhile, a growing number of innovative products developed in China are on the cusp of expansion into overseas markets.

Headquartered in both China and US, the new firm will help partners bring drugs to China and other Asian markets. Novavax licenses COVID-19 vaccine in Japan to Takeda, following previous week’s deal for the vaccine in India.

BeiGene’s license agreement with Leap Therapeutics covers Asia, except for Japan, along with Australia and New Zealand. Apollomics obtains rights in China and beyond to GlycoMimetics’ e-selectin antagonists.

China has officially unveiled its newest stock market for pre-revenue high-tech companies, already attracting ChipScreen and marking a new rival to similar bourses in the US and Hong Kong. But some are cautioning that local regulators and investors will need to step up if the so-called China Nasdaq is to gain traction.