Against the prevailing headwinds in the biotech sector, two Chinese firms are bucking the trend of pipeline reorganization by eyeing the potential acquisition of assets from external partners to expand into more modalities and therapeutic areas.

Plus deals involving Ono/PeptiDream, Onconic/Livzon, Teijin/Novartis, Eisai/Biogen, Abbisko/Allist, Daewoong/M8, GC Biopharma/Catalyst and KYM Biosciences/AstraZeneca.

Following disruptions in the second quarter from lockdowns around China, major Chinese firms BeiGene and Junshi reported strong double-digit sales gains for anti-PD-1 antibodies in the third quarter. Revenues at others including Hengrui, Zai Lab and Allist also shone during the period.

After slashing the prices of their blockbuster drugs to gain wider patient access through China's main reimbursement program, multinationals are now beginning to face increasing challenges from local competitors.