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Anti-China bills portend massive blow to biotech. According to a BioCentury survey, an overwhelming majority of biotechs expect pipeline setbacks; many oppose BIO’s reversal https://t.co/9AvMP6jHce
Congressional spotlight swiveling to China life sciences sector https://t.co/ADPK6WpBVk

U.S. lawmakers are intensifying their scrutiny on the national security implications of biological research and technology, including the origins of COVID-19. A bipartisan Senate panel, with the involvement of Senators Rand Paul and Gary Peters, has announced an investigation into high-risk biological research and technology in the U.S. and overseas. This move comes amid growing concerns over U.S.-China biotech competition and the potential national security threats posed by such research. The investigation, led by the Senate Homeland Security and Governmental Affairs Committee (HSGAC), aims to address the risks associated with developments in life sciences, such as CRISPR gene editing, and the possibility of their manipulation by malicious actors. Additionally, Congress is considering legislation that would restrict American investment in Chinese biotech firms and block U.S. mutual funds from investing in products tracking Chinese stock indexes. The proposed bills, including the BIOSECURE Act H.R.7085, introduced by Rep. Spartz and co-sponsored by Senators Gary Peters and Rand Paul, seek to cut off U.S. taxpayer funding for select Chinese biotech companies and end capital gains tax breaks for Americans investing in Chinese stocks.