UPDATE: The BIOSECURE Act-Passage and Impact on U.S. Biotech and National Security
The House passed the BIOSECURE Act last week, aimed at protecting national security, marking a significant shift in U.S. biotechnology regulations. The Act restricts federal agencies from procuring biotechnology equipment or services from companies linked to foreign adversaries like China, Russia, and others. Specific companies such as BGI and WuXi Biologics are automatically listed as "biotechnology companies of concern." Key Provisions and Impact Prohibition : Federal agencies, contractors, and grant recipients can't use services from listed companies. Designation Process : The Office of Management and Budget (OMB) will publish and maintain a list of companies of concern, with input from national security agencies. Unwinding Period : A five- to seven-year grace period allows existing contracts to phase out. Potential Disruptions : Pharmaceutical supply chains may face delays as companies like WuXi, a major C