Which company could become the Chinese Pfizer? Here are analysts’ top picks
A boom in outlicensing agreements leads to a debate over which Chinese firms may be first to break into overseas markets with own brands
A handful of Chinese biotechnology companies are expected to bring medications to consumers in Europe and the US under their own brand names within the next 10 to 15 years, according to policy and industry analysts.
Outlicensing agreements typically refer to a company granting another firm exclusive rights to further develop, manufacture and commercialise an early-stage drug, in return for upfront payments, milestone fees and royalties on future sales.
Overseas markets are the most lucrative segment of the international pharmaceutical value chain, with the US the most profitable drug market globally. Drug makers charge American patients and insurers higher prices than those in other nations for the same medicines, and the country “has less than 5 per cent of the world’s population and yet funds around three quarters of global pharmaceutical profits”, according to an executive order published by the White House in May 2025.