BioSpace·· 3 hours agoPickScore62
China’s licensing deals soar as US biotechs enjoy a bumper M&A year
In brief
China accounted for 58% of global licensing deal value in 2026, while the U.S. fell from 56% in 2024 to 26%; U.S. biotech M&A totaled $173 billion. That M&A total through the third quarter already exceeded the $151 billion for all of 2025; across 89 deals, U.S.-headquartered companies captured 91% of deal value, compared with 1% for Chinese companies.
Why it matters
The article contrasts licensing share, M&A value and upfront structures to show differences in U.S. and Chinese biotech financing and exit paths.
Source: BioSpace