Deals reached a record high of $110 billion in H12026.
As of June 30, China's innovative drugs have been out-licensed to foreign companies in 81 deals.
A licensing agreement grants a company the rights to develop, manufacture or commercialise another company's pharmaceutical products or technologies in exchange for an upfront fee or future target-based payments, mitigating development risks.
The deal value has already reached 80% of 2025's full-year total.
The products licensed covered therapeutic areas including oncology, metabolism, immunology, and neurology.
The main licensee companies came from countries including the U.S., Britain, France and Italy.
