JP Morgan Banker Says Global Pharma Turns to Asia as Partnerships Shape Winners

Global pharmaceutical companies are increasingly targeting Asia for growth, with strategic partnerships emerging as a key differentiator for success, according to David Lau, co-head of China Investment Banking and Asia Healthcare Investment Banking at J.P. Morgan. Speaking ahead of the J.P. Morgan Healthcare Conference, Lau highlighted rising deal activity, capital inflows, and innovation momentum across the Asia-Pacific healthcare ecosystem.

Asia-Pacific Emerges as a Global Innovation Engine
Lau noted a sharp surge in healthcare IPOs and cross-border investment across APAC, particularly in Hong Kong, where more than 25 healthcare companies were listed in 2026, raising over $30 billion. He added that nearly 45% of global licensing molecules now originate from China, underscoring Asia’s growing role in supplying innovative assets to global pharma pipelines.

Partnership Validation and AI-Driven Investment Decisions
Investors are increasingly favoring Asian biotechs with global licensing or co-development deals, viewing partnerships with multinational pharma companies as critical validation. Lau also emphasized that AI and digital health have shifted from support functions to core value drivers, with both startups and large pharma pursuing multi-billion-dollar collaborations to integrate data-driven platforms across drug discovery, development, and care delivery.