GlaxoSmithKline’s (GSK) long-acting FGF21 analog, efimosfermin alfa, has received IND acceptance from China’s Center for Drug Evaluation (CDE), marking a major advancement in MASH therapy with once-monthly dosing. Engineered to overcome the short half-life of native FGF21, efimosfermin alfa demonstrates a triple mechanism—reducing liver fat, combating inflammation, and reversing fibrosis. Phase II data published in The Lancet showed that after 24 weeks, 68% of patients achieved MASH resolution without fibrosis worsening, 89% had ≥30% liver fat reduction, and 32% reached full liver fat normalization. The drug’s efficacy is independent of GLP-1 background therapy. Acquired by GSK for up to $2 billion, efimosfermin alfa is now advancing into global Phase III trials (ZENITH-1/2) with over 1,250 planned enrollments, offering new hope for China’s estimated 200–300 million NAFLD patients, 10–20% of whom may progress to MASH.

On June 9, 2026, Everest Medicines entered an exclusive licensing agreement with Vcare Pharma for Vicagrel, a next-gen oral P2Y12 antagonist, in multiple Asia-Pacific markets, paying RMB 20 million upfront. On the same day, GSK announced its $10.6 billion acquisition of Nuvalent to bolster its oncology pipeline with two late-stage NSCLC assets—NVL-520 and NVL-655—both with 2026 PDUFA dates. Separately, Johnson & Johnson agreed on June 8 to acquire Firefly Bio for $1 billion in cash to access its Firelink™ degrading ADC platform targeting pan-KRAS and other intractable cancer drivers.

On May 27, 2026, GlaxoSmithKline (GSK) re-submitted its marketing application for bepirovirsen injection—a first-in-class antisense oligonucleotide (ASO) therapy—for the finite-duration treatment of chronic hepatitis B in China. This follows the rejection of its initial priority-reviewed application on May 25, 2026. The new filing (acceptance number JXHS2600056) targets adult patients on nucleos(t)ide analog therapy with HBsAg ≤3,000 IU/mL and no cirrhosis. Bepirovirsen, licensed from Ionis Pharmaceuticals in a $262M deal, demonstrated statistically significant functional cure rates in Phase III B-Well 1/2 trials involving over 1,800 patients across 29 countries. The drug employs a triple mechanism: degrading HBV RNA, suppressing viral replication and HBsAg, and activating immune response. If approved, it could become the first finite six-month treatment for chronic HBV, transforming the current lifelong therapy paradigm.

According to data cited by both parties, China's advanced wound care market is growing at an annual rate of 6%-8%, far surpassing the 2%-3% growth in Europe and the United States. Within this, the market size for advanced wound dressings is approximately 3 billion RMB. Behind this high growth are multiple contributing factors: the world's largest population of diabetes patients has driven up the incidence of diabetic foot ulcers; an aging population has exacerbated pressure ulcer issues; and demand from surgeries and cosmetic procedures has fueled a surge in scar management.

On May 19, 2026, five major therapeutic breakthroughs were reported: (1) Fractyl Health’s RJVA-001, the world’s first AAV gene therapy for Type 2 Diabetes, entered Phase I/II trials, enabling meal-responsive GLP-1 secretion via pancreatic delivery; (2) Hejia Biotech’s Lp(a)-targeting siRNA drug Kylo-11 completed China Phase II enrollment, showing 96.7% Lp(a) reduction at 24 weeks with potential once-yearly dosing; (3) Sun Yat-sen University’s Fifth Affiliated Hospital launched a new Cell Therapy Center in Zhuhai focusing on cell therapy, gene editing, and brain-computer interfaces; (4) CHIATAI TIANQING partnered with GSK to commercialize Bepirovirsen in China, a 6-month finite-course therapy for functional cure of chronic hepatitis B that met its Phase III primary endpoint; (5) BeOne Medicines’ BCL2 inhibitor Sonrotoclax (Beqalzi) received FDA accelerated approval for relapsed/refractory mantle cell lymphoma, achieving 52% ORR and 16% CR in heavily pretreated patients.

In the first quarter of 2026, innovative drug revenue accounted for 61.69% of Hengrui Pharma's total revenue, a year-on-year increase of 25.75%. Zanubrutinib of BeOne Medicines recorded quarterly sales close to 8 billion yuan. RemeGen registered a net profit attributable to shareholders of 328 million yuan, yet its non-deducted net profit remained negative. Chinese innovative drugs continue to gain greater influence across the global market. In 2025, China held 30% of the world’s investigational new drug pipelines, and the total value of overseas out-licensing transactions surpassed $130 billion. Driven by rising sales of its products covering oncology, metabolic and cardiovascular diseases, immunology and respiratory diseases, as well as growing BD income, Hengrui Pharma achieved steady growth in sales revenue from innovative drugs.

Affected by the licensing news, the share price of Hengrui Pharma surged in the afternoon. Its A-share once rose over 9%, with its market value breaking through the 380 billion RMB mark; its H-share once surged over 16%.

On May 11, 2025, Sino Biopharm announced that its subsidiary CHIATAI TIANQING has entered an exclusive strategic partnership with GlaxoSmithKline (GSK) to accelerate the commercialization of bepirovirsen, a first-in-class antisense oligonucleotide (ASO) therapy with triple mechanism of action, in mainland China. CHIATAI TIANQING will manage import, distribution, hospital access, and all promotional activities, recognizing 100% of sales revenue, while GSK remains the Marketing Authorization Holder responsible for regulatory, quality, and global medical strategy. The initial term is 5.5 years, extendable by mutual agreement. Bepirovirsen, submitted for Chinese marketing approval in March 2026 and granted priority review, demonstrated significant functional cure rates in Phase III B-Well trials and could become the first finite-duration therapy to achieve functional cure for chronic hepatitis B—a disease affecting 75 million people in China and causing over 450,000 annual deaths.

In October 2023, Alebund acquired the exclusive commercial rights in China for Roche's long-acting erythropoietin MIRCERA® (AP601). This global first-in-class long-acting erythropoietin (EPO), administered once monthly, is indicated for the treatment of CKD-related anemia. After being included in the National Reimbursement Drug List (NRDL) in 2024, it experienced rapid uptake, contributing RMB 30.556 million in revenue in 2025, accounting for 100% of total revenue.

For pharmaceutical companies, the significance of the CTP is even more direct: securing a spot provides the most authoritative endorsement for a pipeline asset, after which subsequent clinical advancement, out-licensing deals, and commercial rollout become much easier, sometimes even triggering a surge in stock price. As a result, many companies make it their primary goal to get their assets into the CTP. Historically, CTP slots have been locked down by MNCs.