Biosecurity Act to Restrict US Companies from Doing Business with Chinese Biotech Firms

US House of Representatives ⁢to⁢ Vote on ⁤Biosecurity Act in September

The US House of⁤ Representatives has announced that it‌ will include the⁣ Biosecurity Act in​ the list of “stay-at-home ​bills” and hold a vote during the ‌second week of ‌September (9th to 13th). This move is expected to expedite​ the passage of the bill, which aims to restrict US companies from doing business with Chinese biotech firms.

The Biosecurity Act, which was passed by the House standing committee in May with an overwhelming 40 votes in favor and 1 vote against,‌ is likely to pass the vote. The‍ Speaker of the House of Representatives, Mike Johnson, is actively supporting the bill, which is expected to gain speed in the legislative process.

The Biosecurity ‌Act restricts companies receiving funding from the US government⁣ from doing business with Chinese ‍biotech companies, ​including Wuxi Biologics and Wuxi Apptech, ⁢China’s largest CDMOs (contract development and manufacturing organizations). If⁤ the bill is passed, US government ‌agencies,⁣ public health insurance companies, and private companies that have received‌ research grants⁣ from the US government will be prohibited from contracting with‌ Wuxi Apptech or Wuxi Biologics.

This ​move is‌ expected to create a large market vacuum, as many US bio companies,‌ including Eli ⁣Lilly, have manufacturing ‍and R&D contracts with Wuxi Biologics⁣ and Wuxi Apptech. The passage of ​the ‍Biosecurity Act will likely have significant implications for the US⁢ biotech industry and its relationships with Chinese companies.

The US‍ House of Representatives’ decision to⁣ expedite the passage of the Biosecurity Act ⁢reflects growing concerns⁣ about national security⁣ and the ⁢need to restrict ⁣US companies from doing business⁣ with Chinese biotech firms. The bill’s passage is expected to have significant implications for the US⁤ biotech industry and its ‍relationships‌ with Chinese companies.