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Health Populi December 18, 2024
BIOSECURE Act and its impact on the Life Sciences Industry
Lexology May 29, 2024
The Act, which was approved in the United States this month, prohibits executive agencies (“EA”) from contracting with or providing financial assistance to “biotechnology companies of concern” (“BCOC”) or any companies who have commercial arrangements with BCOC. The Act defines BCOC and specifically names companies such as RPC-BGI, MGI, Complete Genomics, WuXi Apptec and their affiliates.
The Act also defines an EA as “an Executive department, a government corporation, and an independent establishment” including the Department of Defence, the Department of Energy and the Department of Health and Human Services, which houses agencies such as the Food and Drug Administration, the Centre for Disease Control and the National Institutes of Health.
The objective of the Act is to reduce EAs’...
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