Strong sales growth and licensing activity in 2023 helped multiple Chinese biotechs to a solid profit performance, some moving into the black for the first time.

The latest development shows that BIOSECURE Act is gaining momentum in the US Congress and off Capitol Hill. In the meanwhile, the Chinese biotech sector embraces uncertainty but hopes that common interests in health innovation will prevail in the end.

ArriVent launched the second biopharma initial public offering of 2024, closing above its IPO price on its first day and grossing $175m – and keeping the financial market mood optimistic.

Confidence in growing in-house commercial capabilities has recently prompted several Chinese pharmas, including Simcere and 3SBio, to focus on obtaining domestic rights to novel drug assets developed by other China-based biotechs, rather than pursuing international deals.