Chinese Pharma's Global Expansion Surges: Hengrui, BeiGene Among Leaders Sealing Major International Deals

　　【Pharmaceutical Network Industry Dynamics】Recently, the wave of overseas expansion in the pharmaceutical industry has surged once again. Many Chinese pharmaceutical companies have made their mark in the international market through a series of major deals, showcasing the strength and potential of China's innovative drugs, including companies such as Hengrui Pharma and BeOne Medicines.
 

Among them, Hengrui Pharma announced on the morning of September 5 that the company had reached an agreement with U.S.-based Braveheart Bio, Inc. to grant a paid license for its proprietary Class 1 innovative drug project, HRS-1893, to Braveheart Bio. This marks Hengrui's second collaboration with international capital in a year, completing a BD transaction through the NewCo model.
 

Data shows that HRS-1893, a high-selectivity Myosin small molecule inhibitor independently developed by Hengrui Pharma, can specifically inhibit myocardial myosin ATPase activity, normalize myocardial contractility, reduce left ventricular hypertrophy, and improve diastolic compliance. HRS-1893 has been involved in multiple clinical trials, and its Phase I clinical trial data was recently presented at the 2025 European Society of Cardiology (ESC) Congress. Additionally, the Phase III clinical trial for the treatment of obstructive hypertrophic cardiomyopathy has been initiated in China.
 

According to the agreement, Braveheart Bio will pay Hengrui Pharma an upfront payment of $65 million (including $32.5 million in cash and $32.5 million worth of Braveheart Bio company shares) and a near-term milestone payment of $10 million upon completion of technology transfer, totaling $75 million. Hengrui Pharma is eligible to receive milestone payments related to clinical development and sales, with a maximum potential amount of $1.013 billion.
 

On September 3, Chinese biotech company Argo Biopharma announced that it had reached a further collaboration with Swiss pharmaceutical giant Novartis to jointly develop RNA drugs for cardiovascular diseases. According to the terms of the agreement, Argo Biopharma will receive an upfront payment of $160 million. Argo Biopharma stated that it may receive additional payments from these two deals in the future: if subsequent R&D, registration, and commercialization milestones are successfully achieved, the company could receive up to $5.2 billion in milestone, option, and tiered royalty payments. Novartis also stated that it plans to participate in Argo Biopharma's next round of financing. This marks the second deep collaboration between the two companies in less than two years.
 

According to the agreement, Novartis will obtain two authorized options: for two candidate molecules in the drug discovery stage for the treatment of severe hypertriglyceridemia (sHTG) and mixed dyslipidemia, Novartis can choose to acquire the development and commercialization rights outside the Chinese market. After Argo Biopharma completes the combined clinical trial of the investigational drug BW-00112 for the treatment of dyslipidemia, Novartis will also have the first negotiation right for this drug. In addition, the scope of this licensing collaboration also includes another RNA technology-based candidate molecule from Argo Biopharma, which is expected to enter Phase I clinical trials next year, with both parties having the option to share profits in the Chinese and U.S. markets.
 

In addition, BeOne Medicines recently announced that it has reached an agreement with Royalty Pharma, a U.S.-based biopharmaceutical royalty investment company, to sell the rights to receive royalties on global sales of tarlatamab outside of China. The transaction is valued at up to $950 million.
 

Data shows that Taladotinib is an immunotherapy. According to the terms of the agreement, BeOne Medicines will receive an upfront payment of $885 million and has the right to sell the remaining royalty rights within 12 months, which could result in an additional payment of up to $65 million. BeOne Medicines will be entitled to a share of the product's annual sales exceeding $1.5 billion based on the proportion of royalties. Meanwhile, BeOne Medicines will retain the royalty rights for other products and all other rights, including the innovative products currently being studied in prostate cancer patients.
 

This series of major transactions indicates that Chinese pharmaceutical companies are accelerating their integration into the global pharmaceutical innovation system. Through cooperation with international capital and pharmaceutical companies, they can not only secure financial support to expedite the R&D process but also leverage their partners' resources and channels to bring China's innovative drugs to broader international markets, enhancing the global influence of China's pharmaceutical industry.
 

Disclaimer: In any case, the information or opinions expressed in this article do not constitute investment advice to any person.