Four latecomers including Akeso and Henlius managed to record a combined $101m in immuno-oncology drug sales in China in the first half, while market leaders such as BeiGene and Innovent saw mixed results as competition between domestically-developed rivals continues to heat up.

A number of major Chinese pharma firms, including Simcere and Hansoh, brought in more revenues from innovative drugs than generics in the first half, a major stand-out from their domestic peers.

Multinationals including AstraZeneca are retreating from China’s overcrowded immuno-oncology market but one exception - Pfizer - remains steadfast.

A landmark approval and domestic tie-up in China mark the fast innovation that is shaping the country’s health sector.