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Biotechnology and life sciences research is critical to ensuring the United States can compete in the 21st century. As a member of @BipartisanVets, I sat down with members of @NatSecBioTech to hear more about their work to bolster our national security through biotech. https://t.co/RAHDcIDXnA
⚡Hang Seng Index $HSI falls by 2%, and the Tech Index is now down 2.8%. Wuxi AppTec tumbled by 5% and Wuxi Bio was down 6.7%. Biotechnology Innovation Organization revised the announcement to WuXi Apptec proactively ending its relationship with BIO. #China… https://t.co/1l5DL4TdRc
WuXi AppTec Says It Left Washington Lobbying Group Voluntarily https://t.co/WYvSTZOyUm
The Biotechnology Industry Organization (BIO) is cutting ties with WuXi AppTec, a China-based biopharmaceutical company, following concerns of national security and ties to the Chinese government. This decision comes after reports of WuXi's market value dropping over 40% and the potential impact on drug shortages in the US. BIO is supporting the BIOSECURE Act to limit China's role in the US biotech industry.