Some of China's makers of COVID-19 antivirals are fast-tracking neutralizing antibodies and peptide fusion inhibitors in clinical trials, while vaccine developers are embroiled in a tougher situation against the mutating coronavirus.

China's Hybio, Youcare and Shanxi Jinbo appear to be the only three companies in the world trying to develop a fusion inhibitor for COVID-19, the most advanced of which has now moved into a domestic Phase II trial.

CSPC acquires a little-known Guangzhou biotech to kick-start China's pharma sector consolidation in 2022, a key goal outlined in the country's recent 14th Five-Year Plan.

China's new five-year plan for the pharma sector calls for closer collaboration between large and small domestic pharma companies, not only for products and technologies but also capital. However, it remains to be seen which specific measures government agencies will take to achieve the broad goals.