US lawmakers raise concerns over US competition with China in biotech, proposing bills to bar certain Chinese-owned companies from working with federally funded medical providers.
US lawmakers raise concerns over US failure to compete with China in biotech, warning of risks to national security and commercial interests. Bills introduced in the House and Senate aim to bar "foreign adversary biotech companies of concern" from doing business with federally funded medical providers, naming four Chinese-owned companies. Critics argue that restrictions on Chinese firms could impede advancements in biotech that could bring significant benefits, while supporters claim it's essential to protect US interests. Both the US and China consider biotech a critical national interest.
February 19, 2024
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