Global drugmakers are stepping up their search for China-developed experimental medicines as they cut costs ahead of patent expirations, with industry analysts predicting licensing deals will surge to a fresh record this year. The value of such deals signed by companies in the greater China region - which includes Hong Kong, Macau and Taiwan - rose nearly tenfold last year from 2021 to an unprecedented $137.7 billion, according to data provider Pharmcube. Mainland China has overwhelmingly been at the centre of that search, with global drugmakers including Novartis, Merck and GSK inking major agreements last year.