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U.S. Biosecurity Bill Extends Decoupling Deadline for Chinese Biotech to 2032

May 10, 2024, 02:54 PM

Recent legislative changes to the Biosecure Act are set to impact U.S. biotechnology firms by extending the timeline for decoupling from Chinese biotech companies like WuXi AppTec and WuXi Biologics. The revised bill, which now includes provisions for reimbursement and contracts by federal agencies such as CMS, the Department of Veterans Affairs, and NIH, also grandfathers existing contracts. This adjustment aims to provide a 'substantial runway' for the industry, setting a decoupling deadline of 2032. The modifications come amid concerns that a rapid disengagement could harm patients and biopharmaceutical companies, as indicated by a survey from IAmBiotech.