How, When, and If the U.S. BIOSECURE Act Is Likely to Become Law

Lexology August 19, 2024
Sidley Austin LLP

Both U.S. and P.R.C.-based biotechs are anxiously watching attempts to pass the U.S. BIOSECURE Act into law. Michael Borden and Andrew Shoyer explain what this month’s developments mean, and why the legislation, even with so much attention and publicity, may never actually become law.

The U.S. BIOSECURE Act proposes to ban five P.R.C.-based biotech companies from operating in the United States – and potentially to ban other “biotechnology companies of concern” – amid a backdrop of concerns that the Chinese government might obtain U.S. IP and exploit Americans’ genomic data. The prospect of this legislation being passed into law is already leading to meaningful shifts in market behavior. We have seen major strategy reconsiderations by both U.S. and P.R.C.-based biotechs...

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