China Healthcare: Takeaways from Inaugural Morgan Stanley China Biopharma Symposium

研报英文原文证据摘录

China Healthcare: Takeaways from Inaugural Morgan Stanley China Biopharma Symposium

Idea

June 23, 2026 02:22 AM GMT

Morgan Stanley Asia Limited+MChina Healthcare | Asia Pacific Alexis Yan, CFA

Equity Analyst

Takeaways from Inaugural Alexis.Yan@morganstanley.comJack Lin +852 2239-7953

Jack.Lin@morganstanley.com +852 3963-3746

Morgan Stanley China Morgan Stanley & Co. LLC

Sean Laaman, Ph.D.

Equity AnalystBiopharma Symposium Sean.Laaman@morganstanley.com +1 212 761-4947

Terence C Flynn, Ph.D.

We attended the inaugural Morgan Stanley China Biopharma Equity Analyst

Terence.Flynn@morganstanley.com +1 212 761-2230

Symposium in Shanghai on June 17-18, themed "Bridging

Morgan Stanley Asia Limited+

Biopharma Frontiers: China and Global Innovation". The event Clinton Ng

gathered representatives from 50+ China biopharma/biotech, Equity Analyst

Clinton.Ng@morganstanley.com +852 2848-6659

20+ global pharma and 10+ PE/VC investors. Below are our

takeaways.

Key Takeaways

Global recognition of China innovation is moving beyond engineering "ADCs/

China Healthcare

bsAb/GLP-1s" to more modalities, disease areas and next-gen technologies. Asia Pacific

Industry View Attractive

Correspondingly, BD deal models are broadening from pure out-licensing to

NewCo, co-co and strategic partnerships to better unlock asset value.

Clean IP, corporate structure and globally translatable clinical development

strategies are additional factors to consider when preparing for globalization.

AI-driven drug discovery is shifting from platform narrative to asset generation,

as vertical players integrate AI, automation, and biology.

Hengrui offers a good example of China biopharma globalization, underpinned by

end-to-end development capabilities and monetized via versatile BD models.