Senate bill seeks to curb US reliance on China in drug industry

Bipartisan US senators on Wednesday unveiled legislation aimed at increasing transparency around foreign influence in the pharmaceutical industry, amid growing concerns over US dependence on China for critical drug ingredients and medical supply chains. “There is no reason why we should be letting our adversary, Communist China, … control our medicine supply chain,” Senator Rick Scott, a Republican from Florida, said. “Right now, we are very dependent.” The Pharmaceutical Investment Oversight and Accountability Act would require the Federal Trade Commission, in consultation with the Committee on Foreign Investment in the United States (CFIUS), to submit an annual report to Congress…