RE:RE:RE:RE:Inflation Reduction Act (IRA) boosts biological drugs China and India have become small molecule (active pharmaceutical ingredients) (API) manufacturing powerhouses. China manufactures bulk ingredients, which India imports, and then manufactures into oral tablets for export to over 200+ countries and historically sold by Big Pharma companies. This powerhouse combination has geo-political consequences involving security of supply for the United States and the EU.
https://www.linkedin.com/pulse/indias-efforts-diversify-from-chinas-api-dominance-ca-kunal-prasad-dct9f/
https://www.grandviewresearch.com/industry-analysis/china-small-molecule-cdmo-market-report
One of the purposes of the IRA is to off-set both China and India's dominance in the global pharmaceutical industry, in particular in the United States and the EU, by rebalancing the drug development and manufacturing scales and estabishing the United States as the dominant player in the biologics space.