According to CoinMeta, Goldman Sachs states that Chinese biotechnology is becoming a major source of assets for large pharmaceutical companies to acquire. It is estimated that by 2032, $440 billion worth of drugs will lose their patents. Goldman Sachs' chief analyst for US biotechnology, Salveen Richter, pointed out that Chinese competitors may shorten the product development cycles of Western pharmaceutical companies. China's five-year pharmaceutical plan aims to have at least 25% of globally innovative drugs by 2030. Meanwhile, AstraZeneca agreed last week to invest $2 billion in a US-listed Summit Therapeutics; the main cancer drug from Summit originates from Chinese Akeso. This year, the total value of overseas licensing deals for Chinese drugs has exceeded $120 billion, representing a year-on-year increase of 36%. Richter also mentioned that the possibility of cooperation between Chinese pharmaceutical companies and Western firms is increasing, and they could become the next multinational corporations.