House passes Biosecure Act, new Chinese biotech restrictions

WASHINGTON — Congress is poised to pass the Biosecure Act after two years of incremental changes that watered down the bill’s curbs on Chinese biotechs and made the law more palatable for U.S. biopharma companies. The House passed a defense budget bill today that includes Biosecure, which restricts how U.S. pharmaceutical and biotechnology companies do business with Chinese companies that are determined to be working with the Chinese military and Communist Party. It also aims to prevent those companies from acquiring Americans’ sensitive genetic data. The Senate is expected to vote next week on the National Defense Authorization Act, including…