Risks For Pharma Industry Remain As BIO Shifts Course On BIOSECURE Act

 
• By Sarah Karlin-Smith
  
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Trade group’s break from WuXi Apptec allows BIO to reset its lobbying approach under its new CEO but doesn’t negate the business and supply chain disruptions that biopharma would feel from the proposed legislation.

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The Biotechnology Innovation Organization appeared to do a 180 degree turn on 13 March when its new President & CEO John Crowley announced the trade group’s support for the BIOSECURE Act, a bill that would make it harder for certain Chinese biotech companies to do business in the US. 

Key Takeaways

  • BIO’s shift in stance on BIOSECURE may be lobbying tactic to help secure changes to pending legislation, which continues to pose major threat for US biotech and pharma.

Simultaneously, BIO announced that WuXi AppTec Inc., one of the Chinese companies targeted by the legislation, was withdrawing its...

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