China Expands Novel-Drug Approvals And Reimbursement

In 2025 China's National Medical Products Administration approved a record 76 innovative drugs, officials said, up from 48 in 2024. The approvals, combined with regulatory reforms since 2015 and the addition of new therapies to the 2026 national reimbursement list, have lowered patient costs and driven $135.7 billion in out-licensing deals in 2025, signaling rising domestic biopharma influence globally.