Updated US bill to restrict Chinese biotechs provides more time to cut ties
A new version of a congressional bill, dubbed the BIOSECURE Act, that would restrict US business with certain Chinese biotechnology companies including WuXi AppTec (SHA: 603259) and BGI Genomics would give US companies until 2032 to end work with the firms, extending the amount of time to find new partners.
Introduced in the House of Representatives in January 2024, the bill mainly aims to restrict federal government funding and/or partnerships with a few Chinese companies deemed a threat to national security.
The revised bill, opens new tab was introduced on Friday. A US House of Representatives committee is expected to decide next week whether to move it forward, according to a House Committee on Oversight and Accountability spokesman.
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