China has recently approved TJ Biopharma’s felzartamab (Jingfei) as the third CD38 inhibitor for multiple myeloma, marking the first approved indication for the drug. This approval marks entry of Biogen into the oncology commercial space in China and intensifies competition in an already crowded multiple myeloma market, according to GlobalData, a leading intelligence and productivity platform.

Multiple myeloma presents challenges such as the inevitability of relapses, an elderly patient demographic, time toxicity, and issues with patient quality of life and treatment compliance. Therefore, there is a pressing need to enhance the quality of life and treatment adherence for patients.

According to GlobalData Pharma Intelligence Center, the number of diagnosed prevalent cases in China is projected to grow at a compound annual growth rate of 1.56% between 2026 and 2031. This underscores the significant disease burden in China and the increased demand for effective treatments.

The National Medical Products Administration (NMPA) has approved felzartamab in combination with lenalidomide and dexamethasone for the second-line treatment of adult patients with multiple myeloma. Supported by Phase III trial data demonstrating efficacy comparable to existing therapies, alongside a differentiated clinical profile, felzartamab is the third anti-CD38 monoclonal antibody approved in China, following Johnson & Johnson’s daratumumab and Sanofi’s isatuximab.

GlobalData’s patient-based forecast projects that felzartamab will capture 14.6% of the Chinese multiple myeloma market in 2029.

Biogen’s April 2026 acquisition of the Greater China rights from TJ Biopharma, consolidating exclusive worldwide rights to felzartamab, marks its strategic debut in the Chinese oncology market

Abhishake Peyyeti, Pharma Analyst at GlobalData, comments: “Felzartamab addresses critical gaps in care by reducing CD38 monoclonal antibody infusion times to 30–90 minutes. This substantial reduction minimizes clinic burden and enhances quality of life, delivering a vital clinical benefit to elderly populations.”

According to the GlobalData Pharma Intelligence Center, there are 85 drugs in clinical development for multiple myeloma in China from Phase I to Phase III, six drugs in Phase III, 29 drugs in Phase II, and 50 drugs in Phase I.

Peyyeti concludes: “While the Chinese multiple myeloma market remains crowded, felzartamab’s shorter infusion narrows the gap with intravenous Darzalex, but J&J’s subcutaneous Darzalex Faspro remains the convenience benchmark Biogen has to price and position against.”