US Weighs Allowing Most Pharma Licensing Deals With China
核心洞察
The US Treasury is drafting rules that would likely let American drugmakers keep striking most licensing deals for Chinese-developed medicines.
The rules would permit investment in Chinese drug programs unless they involve pathogens or weaponizable biotechnology, sources briefed on the process said.
Pfizer and other large drugmakers have lobbied against broad restrictions, while smaller biotechs and some lawmakers want tighter curbs on China deals.
The US Treasury Department (搜索) is drafting rules governing pharmaceutical investment in China that would likely preserve the ability of American drugmakers to sign most licensing deals for Chinese drugs, according to three people briefed on the process. The approach would be looser than restrictions sought by some lawmakers and marks a departure from the Trump administration's tightening of business with China in other industries under new national security legislation.
Under the draft rules, US pharmaceutical companies would likely be allowed to invest in promising new drugs developed by Chinese companies as long as they are not related to pathogens or biotechnology that could be weaponized. The sources said the rules are not final and could change, particularly if President Donald Trump weighs in. Treasury and White House officials declined to comment, and the content of the rules has not been previously reported. Outside licensing deals in Chinese biotech were worth $115 billion last year, according to GlobalData, and almost half of US deals to bring in licensed drugs from abroad in 2025 were with Chinese companies.
Major drugmakers including Pfizer have met with administration officials, among them Treasury Secretary Scott Bessent, to argue against broad restrictions. Pfizer CEO Albert Bourla said he discussed China and national security with Bessent, Secretary of State Marco Rubio and representatives of the Department of Health and Human Services, and said licensing medicines from Chinese companies should not be restricted. Bristol Myers Squibb (搜索) signed a partnership with Jiangsu Hengrui Pharma (搜索) worth up to $15.2 billion, while Pfizer announced a collaboration with Innovent Biologics (搜索) worth up to $10.5 billion covering 12 oncology programs. Opposing that position, Ginkgo Bioworks CEO Jason Kelly has told Treasury officials that continued outbound investment risks a strategic dependence on China for innovative drugs, and lawmakers including Representatives John Moolenaar and Debbie Dingell are co-sponsoring a bill proposing tighter Treasury regulation of biotechnology-related investments, licensing agreements and joint ventures involving Chinese companies.
Source: Taylorville Daily News