By Fineline Cube 
Albert Bourla, CEO of Pfizer Inc. (NYSE: PFE), highlighted the benefits of collaborations between multinational companies and China-based biotechs during his speech at the National Committee on US-China Relations Gala in New York, as reported by Reuters. Bourla emphasized that China’s rapid progress in drug development has significantly altered the global competitive landscape.
China’s Drug Development Growth
Bourla noted that China has transformed from having around 60 novel drugs in development a decade ago to now accounting for approximately 1,200 novel drug candidates, representing 30% of global drug development. He also highlighted the efficiency of China-based trials, where patient recruitment can be conducted 2 to 5 times faster than in the United States.
Pfizer’s Collaboration with Chinese Biotechs
Pfizer has joined other multinational pharma companies in partnering with Chinese biotechs to bolster its drug pipeline. In July 2025, Pfizer completed a licensing deal with China’s 3SBio Inc. (1530.HK) for the development rights outside China to SSGJ-707, a bispecific antibody targeting PD-1 and VEGF. The deal included a $1.25 billion upfront payment and $4.8 billion in milestone commitments. Bourla pointed out that Chinese biotech firms accounted for nearly one-third of all large pharma drug licensing deals last year, reflecting a significant shift in the sourcing of innovation.-Fineline Info & Tech