China's biopharma firms including Hengrui Medicine and HUTCHMED actively pursue licensing partners for their drug assets as the economic downturn caused by domestic COVID flare-ups continues worsening. Meanwhile, there are some predictions that smaller biotechs in the country may need to tap into multinationals' deep pockets to raise new funds.

Shanghai’s biopharma sector has started to regain momentum and is beginning to see its innovation bets paying off, with support from the local government.

A new medicine to protect newborns and infants from RSV infection and a new treatment for DLBCL are among a dozen drugs that have been recommended for pan-EU approval.

Promising new clinical results presented at ESMO are likely to help several Chinese firms gain traction to take their new drug candidates into global markets, including the US.