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Treasury Drafts Rules Allow U.S. Firms Investing in Chinese Biotech

By Drooid · Sep 21, 2026, 2:52 PM UTC · How we work

Summary

Story summary

U.S. Treasury is drafting licensing rules that would let American firms invest in Chinese drug companies, excluding pathogen-related biotech.
China biopharma stocks rose after Reuters reported the Treasury draft rules.
Pfizer announced a partnership with Innovent worth up to $10.5 billion for 12 oncology programs.
NMPA data show 81 China-U.S. out-licensing deals worth $110 billion were completed in H1 2026.
Nomura expects China-U.S. out-licensing to remain strong in the favorable environment.

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Story summary

U.S. Treasury is drafting licensing rules that would let American firms invest in Chinese drug companies, excluding pathogen-related biotech.
China biopharma stocks rose after Reuters reported the Treasury draft rules.
Pfizer announced a partnership with Innovent worth up to $10.5 billion for 12 oncology programs.
NMPA data show 81 China-U.S. out-licensing deals worth $110 billion were completed in H1 2026.
Nomura expects China-U.S. out-licensing to remain strong in the favorable environment.