China has taken a new counterstrike against the US in the chips sector, but the risk of potential wider impact on the biopharma sector appears to be limited given other tighter regulations already in place.

Multinational pharma firms are exploring their next growth trajectories in China, where some including AstraZeneca and Roche are deepening their commitment by becoming further integrated into local innovation ecosystems and pursuing deals, while others such as Pfizer are focusing on tackling reimbursement challenges.

The latest China biopharma trends, including recent multimillion dollar deals by biotech firms, companies preparing for the worst as the 'capital winter' lingers, and GLP-1 agents for obesity are discussed by Brian Yang in Beijing and Dexter Yan in Shanghai in this latest Chinese-language podcast.

Multinational pharma companies are becoming increasingly uneasy over China's recent crackdown on overseas and domestic consulting and due diligence firms, but local governments are still actively courting foreign investors.

The recent arrest of a local Japanese employee of Astellas triggered alarms for pharma firms operating in China, while a newly-expanded and wide-ranging anti-espionage law means that sponsors must pay careful attention to overseas data transfers, especially related to clinical trials, business intelligence and due diligence, as well as other activities.

Cross-border deals are down and investment has dried up, while geopolitical tensions have started hitting the Chinese biotech sector in unprecedented ways. Biopharma firms are expecting more rainy days ahead and are embracing new fundraising and deal-making approaches to survive and thrive.