Bipartisan U.S. Lawmakers Introduce Legislation to Restrict Biotech Investments in China

Bipartisan lawmakers in the U.S. Congress unveiled a new bill on Tuesday aimed at preventing investments in the pharmaceutical and biotechnology sectors from flowing to Chinese companies. The proposed “Biotechnology Investment National Security Act” (BINSA) is co-sponsored by John Moolenaar, Chairman of the House China Task Force, and Debbie Dingell, both representing Michigan. This legislation seeks to extend the current foreign investment review rules to cover pharmaceutical drug development, biologics, and clinical research involving Chinese entities. Moolenaar emphasized the threat posed by U.S. companies, including Pfizer and Bristol Myers Squibb, engaging in risky transactions with Chinese biotech firms that could…