RE:RE:RE:RE:RE:Inflation Reduction Act (IRA) boosts biological drugs March 19, 2024 - The passing of the BIOSECURE Act could deal a devastating blow to China based WuXi AppTec’s business. For one, the company would be cut off from the possibility of U.S. contracts or grants fueled by taxpayer dollars. But, more critically, the proposed law would forbid the federal government from contracting with other drugmakers who work with one of the aforementioned companies of concern. That provision extends the scope of the BIOSECURE Act to “most companies in the U.S. life sciences industry that either are currently government contractors or hope to become one in the future,” law firm Lowenstein Sandler wrote in a note to clients Monday regarding the draft legislation.
https://www.fiercepharma.com/pharma/wuxi-apptec-still-sees-sales-growing-and-expansions-rolling-2024-despite-national-security
Several governments, including the U.S. and EU, have long voiced concern over human rights violations in the Xinjiang region that primarily target Uyghur Muslims.
In February 2024 after introducing legislation targeting certain Chinese biopharma companies, a group of bipartisan lawmakers are taking their concerns to the White House—and upping the stakes.
According to the lawmakers, WuXi AppTec has received investments from several China’s People’s Liberation Army (PLA) funds, which is China’s primary military force.
"Given WuXi AppTec's clear ties to the CCP and the PLA and its likely role in enabling the genocide in Xinjiang, we urge your departments to consider the inclusion of WuXi AppTec and its subsidiaries on your respective control lists," the legislators said in the letter.
Those lists would include sanctions under the Treasury's Non-SDN Chinese Military-Industrial Complex Companies List, the Commerce’s Entity List which restricts U.S. sales to certain entities and the Pentagon's "1260H" list, which identifies firms with potential national security concerns.
"Given WuXi AppTec's clear ties to the CCP and the PLA and its likely role in enabling the genocide in Xinjiang, we urge your departments to consider the inclusion of WuXi AppTec and its subsidiaries on your respective control lists," the legislators said in the letter.
Those lists would include sanctions under the Treasury's Non-SDN Chinese Military-Industrial Complex Companies List, the Commerce’s Entity List which restricts U.S. sales to certain entities and the Pentagon's "1260H" list, which identifies firms with potential national security concerns.