Johnson & Johnson's Global BD Head Nauman Shah: Chinese Innovation Is a Must-Watch on the Global Stage

This YearIn May, Johnson & Johnson held a grand External Collaboration Summit in Shanghai. Unlike last year’s collaboration forum, the projects solicited for this summit expanded from oncology to multiple other fields, including autoimmune diseases.

This is partly because Johnson & Johnson’s Innovative Medicine business is leveraging robust growth across its multi-therapeutic-area portfolio, but more importantly, Johnson & Johnson sees the potential of Chinese innovation and opportunities for collaboration in a broader range of therapeutic areas beyond oncology.

In 2025, Johnson & Johnson Innovative Medicine's revenue surpassed $60 billion for the first time, reaching $60.4 billion, a 6% year-over-year increase.Behind this growth trend,Johnson & JohnsonInnovative PharmaceuticalsBDGlobal HeadNauman Shah revealed, “Approximately half of Johnson & Johnson’s current product portfolio consists of externally sourced innovations.”

In recent years,Johnson & Johnson’s strategic collaborations in oncology, immunology, and neuroscience are yielding results, building the next-generation growth engine.。Among these, innovations from China have consistently played a significant role.——

Cilta-cel, jointly developed by Johnson & Johnson and Legend Biotech (Carvykti)has become a key player，In 2025, annual sales surpassed the $1 billion mark for the first time, reaching $1.887 billion. The growth momentum continued into the first quarter of 2026, with sales surging 62% year-over-year to $597 million, further extending its legendary partnership with Chinese pharmaceutical companies.

In terms of frontier layout,Johnson & Johnson inAcquired Ambrx and Proteologix in 2024，Nauman Shah particularly emphasized to PharmaCube: “The foundations of both companies are in China.”He further stated that as Johnson & Johnson searches for global innovation opportunities, Chinese innovation has become"Must-See Items"

Johnson & Johnson“Golden Hunter”: How does it view and uncover innovation opportunities in China? What kinds of technologies, assets, or companies does it focus on? With these questions in mind, inJohnson & Johnson External Collaboration SummitOn-site, PharmCubeThe “Decision-Maker DeepTALK” column conducted an exclusive interview with Nauman Shah.

Recognizing the Value of Chinese Innovation Earlier

Johnson & Johnson: A Pioneer in Introducing Chinese Innovations—Not only was it among the first multinational pharmaceutical companies to enter the Chinese market, but it also entered into a co-development partnership with Legend Biotech in 2017, becoming the first multinational pharmaceutical company to engage in deep global collaboration with a Chinese pharmaceutical company.

“At the time Johnson & Johnson entered into its collaboration with Legend Biotech, few in the industry were discussing the Chinese market, and we chose to partner in the highly complex field of cell therapy.”Nauman Shah said with considerable pride, “Nowadays,Cilta-cel, born out of this collaboration, has become the best-performing cell therapy product in terms of commercialization in the history of the pharmaceutical industry.One of。As of now,Patients Receiving This Drug TherapyCompletedBreakthrough12,000-case milestone. It has effectively extended the survival of patients with multiple myeloma, established a new standard of care, and its position in the sequence of therapies within clinical treatment regimens continues to move earlier.”

Following its collaboration with Legend Biotech, Johnson & Johnson has remained consistently present in“The Narrative of China’s Innovation Rising Globally”。Nauman Shahstated that Johnson & Johnson has been closely monitoring the development trends of innovation in China and seizing high-quality opportunities at appropriate times.

He noted:“On drug mechanismsInnovationin areas such as, ChinaCurrentInnovation capability ranks second only to that of the United States.In recent years, China has demonstrated strong momentum in the field of oncology, with immunotherapy beginning to showcase considerable strength, while cardiovascular and metabolic diseases and other therapeutic areas are also gradually rising. In terms of drug modalities, the research and development progress of bispecific antibodies, multispecific antibodies, and antibody-drug conjugates (ADCs) in China has been remarkable, with cell therapies being even more impressive.”

In fact, Johnson & Johnson is also a benchmark multinational pharmaceutical company that has deeply invested in Chinese innovation during the recent wave of Chinese innovative drugs going global.。As early as2024，Johnson & JohnsonregardingAcquisitionstwo companies"China Gene" Biotech——Ambrx and Proteologix。

Ambrx initially built its foundation on site-specific antibody-drug conjugate (ADC) technology mediated by non-natural amino acids, but it gained prominence in China’s biopharmaceutical industry through a Chinese-controlled acquisition in 2015.

At that time, Fosun Pharma, in partnership with Hopu Investment, WuXi AppTec, and Everbright, acquired Ambrx, subsequently establishing a management team led by Chinese executives and restructuring its pipeline strategy, with the PSMA-targeted ADC novel drug ARX517 as its inaugural pipeline asset.

It was this strategic adjustment that paved the way for Johnson & Johnson’s acquisition.2023, ARX517 for the Treatment of Metastatic Castration-Resistant Prostate CancerPatient'sPositive results from the Phase I clinical trial have highlighted to Johnson & Johnson the potential of this therapy as a “best-in-class PSMA-targeted therapy” and the advantages of Ambrx’s proprietary ADC technology, paving the way for future expansion into other oncology treatment areas.

Acquired by Johnson & Johnson in the same yearProteologix was founded by Chinese scientist Dr. Shen Wenyan and received investment from Kangjun Capital in 2022. The company is developing bispecific antibodies for immune-mediated diseases, with a product portfolio that includes the IL-13/TSLP bispecific antibody PX128 and the IL-13/IL-22 bispecific antibody PX130, intended for the treatment of moderate-to-severe atopic dermatitis and moderate-to-severe asthma.

Nauman Shah pointed out that this acquisition strengthens Johnson & Johnson’s portfolio in immunology, particularly by “providing opportunities to address multiple pathogenic pathways with bispecific antibodies in the fields of atopic dermatitis and respiratory diseases.”

Identify Transformative Technologies to Drive Differentiated Innovation

A review of Johnson & Johnson’s global footprint in external innovation reveals a clear strategic orientation: focusing on three key therapeutic areas—oncology, immunology, and neuroscience—with a particular emphasis on continuously seeking optimal treatments in disease domains where it already holds a leadership position, such as multiple myeloma and prostate cancer.

And inAccording to Nauman Shah, “transformative technologies” serve as a benchmark for screening such opportunities.

“All of our strategic initiatives are grounded in unmet clinical needs, and addressing these needs effectively requires leveraging transformative technologies,” said Nauman Shah. “We focus on identifying assets with the potential to be ‘first-in-class’ and ‘best-in-class.’”This asset holds promise for establishing new diagnostic and therapeutic paradigms and treatment standards, warranting dedicated resource investment to ultimately address clinical pain points and realize commercial value.”

A stark reality is that, with the biopharmaceutical industry“The low-hanging fruit” has been picked; transformative technologies are no longer obvious but lie hidden within increasingly fierce and even crowded competition.

Nauman Shah stated bluntly,Johnson & Johnson is able to identify truly differentiated and innovative early-stage opportunities in such an environment,"Secret Manual"Hinges on two key points: closely tracking industry dynamics and maintaining synergy with the internal R&D system.。

“Under a globalized operating model, the BD team closely monitors the pace of global innovation to identify high-quality targets, with the key being to possess differentiated advantages in addressing existing clinical needs. We pay particular attention to high-potential technologies that approach disease treatment from entirely new dimensions.”Nauman Shah said.

Johnson & Johnson inHalda Therapeutics, acquired in December 2025, is a typical example of such opportunities.

Halda Therapeutics possesses a proprietary Regulated Inducer Proximity Targeting Chimera (RIPTAC) technology platform. Its core pipeline asset is HLD-0915, a potential first-in-class oral RIPTAC therapeutic currently in Phase 1/2 clinical trials for the treatment of metastatic castration-resistant prostate cancer.

Nauman Shah revealed the story behind the deal:“We noticed this company during our extensive screening of prostate cancer-related projects. Upon in-depth evaluation, we found that although“RIPTAC technology acts on known targets, but its mechanism of action is fundamentally different. It can simultaneously bind to targets on tumor cells and key functional proteins within the cells, thereby precisely and thoroughly eliminating tumor cells.”

Johnson & Johnson is particularly focused on the current dynamics of biopharmaceutical innovation in ChinaAI Drug Discovery and Antibody-Drug Conjugates. Data from the PharmaCube NextPharma database shows that since 2020, Johnson & Johnson has entered into 10 deals with Chinese innovative pharmaceutical companies, six of which focused on innovative technologies and platforms in these two areas.

Nauman Shah stated:“ChinaThe field of AI-driven drug discovery has yielded a wealth of high-quality outcomes. In collaboration with Chinese enterprises, we aim to develop novel molecules across various drug classes, particularly leveraging these platforms to create new therapeutics targeting proteins previously considered ‘undruggable.’

After laying out transformative technologies and their platforms, integration with the internal R&D system is how Johnson & Johnson truly transforms a deal or a clinical asset intoThe Key to a "Blockbuster."The development and market launch of icotrokinra serve as a benchmark case in this regard.

In 2017, Johnson & Johnson andProtagonist Therapeutics entered into a collaboration to license its peptide technology platform and a first-generation IL-23R therapeutic developed on this platform, with second-generation IL-23R therapeutics subsequently added to the partnership in the following years.

However, the collaboration between the two partiesIt is not merely a matter of multinational pharmaceutical companies licensing molecules from biotechnology firms under the division of professional labor.Nauman Shah revealed: “During the course of collaboration, Johnson & Johnson andProtagonist Therapeutics jointly advanced the optimization of the molecular structure, ultimately successfully completing clinical trials and achieving the market launch of Icotrokinra, a groundbreaking oral peptide drug.”

These collaborations also demonstrate that Johnson & Johnson’s focus on transformative technologies naturally extends to a preference for technology platforms in its transactions, essentially aiming to leverage reusable and scalable technology platforms to create more"Blockbuster."

As Nauman Shah stated, “The most compelling aspect of the technology platform is that it not only supports R&D in a single therapeutic area but also enables the development of multiple pipelines and candidate drugs across various disease areas over the long term, thereby offering multiple growth opportunities.”

Good Collaboration Is Co-Creating Value

Overall, Johnson & Johnson adheres to aA long-term strategy of “early engagement and collaborative creation of maximum value.” Its CEO, Joaquin Duato, has clearly stated in recent years that Johnson & Johnson does not rely on large-scale mergers and acquisitions to achieve growth targets; instead, it identifies early-stage transformative technologies and leverages its capabilities in chemistry, manufacturing, and commercialization to collaborate with partners and maximize value.

“We engage in collaborations with the ultimate aim of co-creating value. Whether through in-licensing or full acquisition, we always adhere to one principle: empowering our partners to achieve mutual benefit and win-win outcomes,” said Nauman Shah.

InIn Nauman Shah’s view, the collaboration between Johnson & Johnson and Legend Biotech on cilta-cel is a typical example of “value co-creation.”

“This collaboration has fully integrated the respective technical expertise and comprehensive capabilities of both parties. Without Legend Biotech’s foundational R&D accumulation, ciltacabtagene autoleucel would not have successfully reached the market. Leveraging its specialized experience in the field of multiple myeloma, Johnson & Johnson tailored a development strategy for this product and facilitated its efficient commercialization, thereby maximizing its value,” he said.

In this collaboration, Johnson & Johnson’s specialized expertise and experience in production and manufacturing are particularly critical.—As a class of highly technologically complex therapies, cell therapies require not only a comprehensive research and development system but also technological breakthroughs in manufacturing processes and scalable production capacity, ultimately enabling their deployment to patients across multiple countries worldwide and the realization of their clinical value.

Nauman Shah introduced: “Guided by the core principle of ‘ensuring the seamless delivery of therapies to patients,’ Johnson & Johnson built a completely new production process and capacity system from the ground up, establishing a manufacturing base in New Jersey, USA. Concurrent with facility construction, significant investment was made to create state-of-the-art modern production facilities and to establish a comprehensive logistics network, enabling the transport of patient blood samples to the plant and the return of the manufactured therapeutic products to the patients.”

Nauman Shah revealed that the production of ciltacabtagene autoleucel is currently led primarily by Johnson & Johnson. However, through years of collaboration, Legend Biotech has gradually mastered multiple production technologies and now undertakes a portion of the manufacturing work. It is evident that this valuable expertise in manufacturing and production constitutes a core competitive advantage for Legend Biotech as a global biopharmaceutical company.

What is even more commendable is that Johnson & Johnson places great emphasis on fostering an innovative ecosystem of mutual benefit and win-win collaboration throughout its partnership transactions. Even in mergers and acquisitions where its involvement is deepest, Johnson & Johnson often preserves the innovative DNA of its partners.

“When we acquire companies with entirely new technology platforms that we do not yet possess in-house, retaining their original core teams is a top priority. They bring the capabilities and expertise we urgently need, enabling both parties to build on existing work and accelerate and amplify innovation outcomes,” Nauman Shah acknowledged. “This approach not only ensures seamless business integration with minimal disruption, but also leverages the combined strengths of Johnson & Johnson and the acquired company to achieve goals that would be difficult for either party to accomplish alone.”

With each transaction“Co-creating Value” in Action: Johnson & Johnson Has Become the Preferred Partner of Choice for All Stakeholders.Currently,Nauman Shah goes a step further, leveraging Johnson & Johnson’s deep industry insights and end-to-end capabilities in its core focus areas, striving to become “a partner proactively sought after by the industry for collaboration.”

"In the disease areas where we have deep expertise, Johnson & Johnson possesses exceptionally strong professional capabilities, enabling us to create significant value for potential partners."Nauman Shah stated bluntly, “Whether it involves drug R&D, technology platform upgrades, candidate molecule optimization, clinical development, regulatory submissions, manufacturing, market access, or commercialization, we can share our world-class expertise and comprehensive capabilities. Few companies possess the robust strength across the entire drug development value chain as Johnson & Johnson does.”

For Chinese innovative pharmaceutical companies, this is a signal worth noting: as Johnson & Johnson incorporates external innovations to build its next-generation pipeline, it leverages its mature R&D system and capability for value realization to create a critical springboard for the global expansion of Chinese innovative drugs.

Such reciprocal, in-depth collaboration will not only fully unlock the maximum value of individual products, but also foster a new ecosystem for the synergistic development of domestic and international pharmaceutical companies, thereby reshaping the global landscape of biopharmaceutical innovation.

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