Riding a wave of booming cross-border dealmaking, China’s AI-driven drug-design firms are charging onto the global stage despite Washington’s growing scrutiny of Chinese biotech firms.The value of out-licensing deals struck by Chinese biotech companies with top global multinational pharmaceutical companies climbed to US$75 billion in the first five months of 2026, up from zero before 2020, according to Linda Shu, head of China healthcare research at HSBC.In total, over the five months, these...