China is seeking to establish at least five innovative pharmaceutical products with annual global sales exceeding US$1 billion by 2030, an ambitious goal that reflects the country’s growing influence in biotechnology and its drive to compete with established Western drugmakers.
The target forms part of Beijing’s latest five-year strategy to strengthen China’s position in global pharmaceutical innovation. Although Chinese biotechnology companies have attracted increasing international interest and licensing deals, the country has yet to produce a medicine that rivals the biggest Western blockbuster drugs in all-time commercial success.
Some industry analysts believe the target is achievable. Cui Cui, Jefferies’ head of Asia healthcare research, noted that Chinese biopharmaceutical companies accounted for more than 50 per cent of global deal value in the first half of 2026. Their competitive efficiency and speed, Cui argued, would help drive the international commercialisation of Chinese-developed medicines.
Julia Pian, a senior associate at Atlas Venture, similarly described the quantitative objectives in China’s five-year plan as “well within reach”, based on the industry’s current trajectory.
Mark Kong, executive director of equity research at DBS Hong Kong, also expressed confidence that China could meet its targets. These include ensuring that Chinese first-in-class innovative drugs account for at least 25 per cent of the global total by 2030, up from approximately 22 per cent currently and just 4 per cent in 2016, according to Kong.
Five medicines stand out as potential contributors to Beijing’s billion-dollar ambition.
One has already established substantial global commercial success: zanubrutinib, developed by BeOne Medicines, formerly BeiGene. Sold under the brand name Brukinsa, the medicine treats blood cancers including mantle cell lymphoma and chronic lymphocytic leukaemia by inhibiting Bruton’s tyrosine kinase, an enzyme that supports the survival and growth of certain cancer cells.
First approved by the US Food and Drug Administration in 2019, zanubrutinib generated US$3.9 billion in global revenue in 2025. It overtook its principal competitor, ibrutinib, jointly owned by AbbVie and Johnson & Johnson, which recorded US$2.87 billion in revenue that year.
Another Chinese-developed blockbuster is Legend Biotech’s ciltacabtagene autoleucel, marketed as Carvykti and developed and commercialised in partnership with Johnson & Johnson. The treatment generated US$1.9 billion in global sales in 2025.
Carvykti is a chimeric antigen receptor T-cell therapy, or CAR-T treatment, used against multiple myeloma, a cancer affecting plasma cells in the bone marrow. It modifies a patient’s immune cells so they can recognise and attack cancer cells. However, a July report by UBS warned that competition from treatments such as Johnson & Johnson’s Tecvayli and Gilead’s anito-cel could constrain future growth.
Akeso’s experimental cancer medicine ivonescimab is another leading contender. The drug attracted international attention after outperforming Merck’s Keytruda in lung cancer trials in 2024, prompting comparisons with DeepSeek’s breakthrough in artificial intelligence.
Its international commercial prospects received a significant boost when British pharmaceutical company AstraZeneca announced a US$2 billion equity investment in US-based Summit Therapeutics, which holds exclusive rights to develop and commercialise ivonescimab outside China. A June report by pharmaceutical data platform Evaluate projected that the drug’s global sales could reach US$8.5 billion by 2032.
BeOne’s tislelizumab, marketed as Tevimbra, is another candidate. The PD-1 inhibitor helps the immune system recognise and attack cancer cells and is used to treat cancers including gastric and oesophageal cancer. Its global sales reached US$737 million in 2025, an 18.8 per cent increase from the previous year. Merck’s Keytruda remains among its principal competitors.
The fifth contender is sacituzumab tirumotecan, or sac-TMT, developed by Sichuan Kelun-Biotech Biopharmaceutical and licensed to Merck for commercialisation outside China. The antibody-drug conjugate delivers cancer-killing agents towards tumour cells and is being developed for cancers including breast and lung cancer.
Kelun has not disclosed sac-TMT’s sales for 2025, although its total revenue for the year reached 2.05 billion yuan, equivalent to US$305.76 million. The company has identified the medicine as its core product.
Together, the five candidates illustrate the breadth of China’s emerging pharmaceutical capabilities, from established cancer treatments with multibillion-dollar sales to newer therapies seeking wider international markets.
Yet meeting Beijing’s 2030 target will require more than scientific breakthroughs. Sustained commercial growth, competition from established global medicines and the ability to expand beyond China will be crucial in determining whether the country’s most promising drugmakers can translate innovation into lasting international success.
