China's innovative drugs have witnessed rapid advancement, with Antibody-Drug Conjugates (ADC) and bispecific/multispecific antibody technologies taking the lead globally. Moreover, China ranks first in the world in terms of the number of research and development pipelines. In a milestone achievement for 2023, the overseas licensing revenue of domestic new drugs surpassed the import value for the first time. Factors including the overseas expansion of new drugs in oncology, autoimmune diseases, and weight loss are intensifying. Furthermore, policy support and the integration of medical and commercial insurance have further refined the industrial environment, contributing to a gradual improvement in industry performance.
