A looming anti-China biotechnology bill has spooked U.S. life sciences companies, according to a new report.
The report by the China-based L.E.K. Consulting quantifies what until now has been mostly a vibe check. At this year’s Biotechnology Innovation Organization’s international conference, multiple biotech companies told STAT they plan to switch from striking deals with Chinese companies to U.S.-based drug manufacturers, even though doing so will be more costly, and the BIOSECURE Act is still just a proposal, albeit one with traction in Congress.
“The Act, regardless of passage, is likely to reshape how the global biopharma industry operates,” the report states.
