(US) Reportedly US is working on rules for pharmaceutical companies investing in China that would likely preserve their ability to strike most licensing deals for Chinese drugs - press
- Proposed framework would focus restrictions on areas like pathogens and potentially weaponizable technologies
**TTN Context: The proposed approach would keep most U.S. drugmakers’ China licensing and collaboration activity outside outbound-investment restrictions, while targeting pathogen-related and potentially weaponizable biotechnology. That is material because Chinese biotechs have become a major source of pipeline assets for global pharma, and broader rules could disrupt large upfront payments, milestones and access to oncology and other development programs. The policy remains politically contested: large drugmakers favor a narrow national-security scope, while some lawmakers and U.S. biotechs want licensing agreements included in tougher China biotech controls.
Recent: This week, GSK agreed to license an oncology asset from China’s Chimagen for up to $750 million, following 2026 China-focused deals including Bristol Myers Squibb’s up-to-$15.2 billion Hengrui collaboration and Pfizer’s up-to-$10.5 billion Innovent partnership.
Upcoming: President Trump is scheduled to meet Xi Jinping in Washington on September 24, 2026; Treasury is not expected to publish pharmaceutical-specific rules before that meeting, while broader COINS Act implementation rules are due by March 13, 2027.