China

Asia Leaders

Uğur Şahin’s US$11.1 Billion Pumitamig Alliance Now Faces the Phase III Arithmetic

Pumitamig has moved from BioNTech’s US$800 million Biotheus acquisition to an alliance worth up to US$11.1 billion. Uğur Şahin must show that encouraging lung-cancer signals survive global Phase III trials and a crowded competitive field.

Asia Leaders

Liang Rubo Put AI at ByteDance’s Centre. Seedance Has Made Governance the Harder Problem

Liang Rubo has made artificial intelligence ByteDance’s central priority. Seedance’s rapid progress now tests whether the company can govern copyright, safety and global trust at equal speed.

Asia Leaders

Vasant Narasimhan Is Funding Novartis’s Next Growth Cycle with Debt, Deals and China Capacity

Vasant Narasimhan has committed Novartis to a rapid sequence of acquisitions and Chinese investment while net debt rises. The strategy could rebuild growth across RNA medicine, oncology and radioligand therapy, but execution now matters more than portfolio rhetoric.

Asia Leaders

Sandy Xu Has Made JD Retail More Profitable. Food Delivery and Europe Will Test Her Discipline

Sandy Xu has improved JD Retail’s economics, but lower group profit exposes the cost of expansion. Food delivery and Joybuy Europe now have to earn strategic relevance.