Multinational pharma firms are exploring their next growth trajectories in China, where some including AstraZeneca and Roche are deepening their commitment by becoming further integrated into local innovation ecosystems and pursuing deals, while others such as Pfizer are focusing on tackling reimbursement challenges.

The XinThera deal gives Gilead multiple PARP1 and MK2 inhibitors. Also, Roche licenses a HER2 kinase inhibitor from Zion, Amgen partners with TScan in Crohn’s disease and Baxter sells the last of its biopharma operations – a CDMO business – for $4.5bn.

The Japanese drug maker is the second in the space of a month to partner up with a Chinese biotech firm for a HER2-targeting antibody-drug conjugate, as ADCs gain more interest from large pharma firms.