A looming anti-China biotechnology bill has spooked U.S. life sciences companies, according to a new report.
The report by the London- and Boston-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,” according to the report, which was written by an analyst in China.
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