Home / Business and Economy / GSK Bets Big on China Drug Deals Amid IPO Rebound
GSK Bets Big on China Drug Deals Amid IPO Rebound
19 Sep
Summary
- GSK has signed five deals with Chinese drug developers since early 2025.
- Electra Therapeutics raised over $300 million in its recent IPO.
- Biotech IPOs in 2026 are nearing pre-pandemic levels in volume.
Pharmaceutical companies have been actively acquiring drugs discovered in China, with over 100 deals recorded in recent years, sparking both concern and debate. GSK has been particularly active, signing five agreements with China-based drug developers since the start of 2025, second only to Roche. Two of these recent pacts involve advanced cancer medicines using antibody technology.
GSK's strategic investments in Chinese biopharmaceuticals are showing early promise. A drug developed through a 2023 partnership with Hansoh Pharma, obtained via GSK, was highlighted at a major oncology conference recently. Analysts view this as a potentially significant oncology asset.
The biotech initial public offering market has seen a strong rebound in 2026, with over 20 companies pricing new stock sales this year, nearly doubling 2025's figures. While the pace is approaching historical norms, the substantial size of these offerings is notable.
Electra Therapeutics' IPO on Thursday night is a prime example. The company became the 11th drugmaker this year to raise at least $300 million, a figure that matches the record set in 2021 and exceeds the total from the preceding four years combined.
