After enduring the chill of a prolonged capital winter, China's drugmakers have begun to feel a thawing breeze.
Dealmaking has surged in 2024, with the nation's pharmaceutical industry attracting increased attention from international rivals for their innovative treatments. Last year, Chinese drugmakers set a record for new drug out-licensing deals -- in which a company allows another party to use its product, technology or intellectual property -- and saw the first-ever acquisition of a domestic biotech company by a multinational pharmaceutical giant.
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