
Hong Kong Biopharma Rally as U.S. Signals Continued Chinese Licensing Deals
Chinese biopharma shares jumped in Hong Kong after reports the U.S. may allow continued licensing of drugs from Chinese firms, with Innovent, Akeso and others leading gains as the Hang Seng Biotech Index rose over 5%. The shift would keep pharma licensing on a different track from tighter U.S. rules for AI and semiconductors. Licensing activity remains robust, with about half of 2025 U.S. overseas drug licenses coming from China and roughly $110 billion in licensing deals in the first half of 2026, underscoring a continued out-licensing boom and China’s push to globalize its pharmaceutical sector.



