China’s biotech firms move up value chain as drug deals evolve beyond licensing: analysts

Chinese biotech deal making is moving beyond the licensing of individual drug candidates, as the country transforms from a follower to a global innovation leader, according to analysts. The latest transaction underscores that shift. Beijing-based cancer drug developer InnoCare Pharma said on Thursday that it had entered into a strategic research collaboration and licensing agreement with US pharmaceutical giant Eli Lilly that could be worth up to US$3.35 billion. InnoCare said it would use its..