China's pharma sector turns to AI for new drug deals

China's drug industry is ramping up its use of artificial intelligence for developing new medications, which is resulting in a significant rise in licensing deals. Lan Gongtao, who is the deputy director general at the National Medical Products Administration, revealed that China now accounts for around 30% of all new therapies being created globally, making it the second-largest player in the world. This highlights the country's progress in innovation. By the end of June, there were 81 deals made in just the first half of the year, which is about 80% of last year's total, as reported by state media. These agreements span 10 therapeutic fields, including oncology and neurology, involving buyers from 20 nations, primarily the US, UK, France, and Italy.