RE:RE:RE:RE:RE:RE:RE:USA Inflation Reduction Act (IRA) 2022 Re: Biotech and ChinaApril 23, 2024 - As the BIOSECURE Act threatens to upend relationships with Chinese contractors and western biopharma companies operating in the U.S., Novartis has elected not to adopt a “wait and see” attitude.
Novartis, like many drugmakers, has ties to Chinese firms in the manufacturing and contract research space, the Swiss pharma’s CFO, Harry Kirsch, said on a press call Tuesday during its first quarter financial results. Amid the threat of a looming biosecurity crackdown by the U.S. government against many of those Chinese biotechs, Novartis is now “actively” managing the situation, Kirsch said.
“So, by the time this comes into effect, we will have no exposure from our planning,” the CFO explained, adding that the situation will be “mitigated in a very reasonable timeframe.”
Kirsch went on to explain that the company is weighing changes to its contracting relationships with Chinese companies “so that we are fully aligned” with potential U.S. regulations.
https://www.fiercepharma.com/pharma/novartis-actively-reviewing-relationships-chinese-contractors-amid-us-biosecurity-crackdown