The Zhitong Finance App learned that recently, at the “FHIM2026 Global Pharmaceutical Cooperation and Investment Annual Conference” held in Shanghai, heads of more than 10 European life science investment institutions organized a group to tap good assets in China's innovative drug industry chain. Li Na, co-founder and CEO of FHIM, pointed out that China's biomedical industry has comprehensive capabilities such as rapid R&D, low R&D costs, and rapid clinical trial development, which is the fundamental reason why global capital pays great attention to the Chinese market.
According to the data, China's share of global biomedical licensing transactions rapidly climbed from 5% in 2020 to 32% in 2025; the number of cross-border transactions reached 157 in 2025, with a total amount of 136 billion US dollars, 2.6 times that of 2024. In the first three quarters of this year alone, the amount of external technology licensing was close to the full year of last year.
Forbion board member Jasper Bos said in a roundtable discussion that no one can ignore the Chinese market or else miss out on huge business opportunities. Li Na believes that combining Europe's mature infrastructure (multinational pharmaceutical companies, investment institutions, scientific research and clinical systems, etc.) with China's innovative assets can obtain a fair and reasonable valuation and return for China's innovative achievements.
Domestic pharmaceutical company sources said that biomedicine naturally has global attributes, but in recent years, US investment reviews and continuous adjustments to relevant regulatory rules in the biomedical sector have brought new uncertainty to cross-border BD cooperation and global pipeline development. The company is willing to focus more on the European market and find a more stable space for cooperation.
Some analysts point out that regulatory restrictions in the European market are relatively mild. Combined with the implementation of the US MFN pricing mechanism, drug transaction prices in the European market will become an important reference benchmark in the US drug price restraint system. Europe has outstanding strategic value for Chinese pharmaceutical companies.
Furthermore, from the perspective of industrial complementarity, Europe's scientific research accumulation, industrial experience, and capital ecology are important support for China's innovative drugs to achieve global upgrading.
First, its large and balanced payment market can help Chinese innovators spread risk in the single market. Second, Europe has a deep source of innovation accumulation and mature industrial operation capabilities. Europe has always been an important source of global innovation in basic research fields such as target discovery and new mechanisms of action. At the same time, European multinational pharmaceutical companies have hundreds of years of global commercialization experience and have mature methodologies for promoting the global launch of products. Furthermore, Europe has a long-term patient capital ecosystem. EQT Life Sciences, a subsidiary of the EQT Group, which participated in this conference, has nearly 30 years of investment experience and has invested in more than 150 companies.
According to reports, FHIM is working with European life science investment institutions to prepare the China-Europe Healthcare Parent Fund and plans to officially launch preparations in 2027 to promote cross-border licensing, joint development and investment and financing of innovative drug and medical device projects between China and Europe.
Societe Generale Securities pointed out that China's innovative drugs have maintained a high level of prosperity. In the first half of 2026, the total BD transactions of Chinese pharmaceutical companies have reached 58% of the world. As major varieties that have completed overseas licensing in the early stages are approved for listing in Europe and the US, it is expected that more than 5 domestically produced innovative drugs will begin overseas commercialization in 2027. China's innovative drugs are moving into the 4.0 era of overseas commercialization, and the industrial logic continues to strengthen.
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