RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:USA Inflation Reduction Act (IRA) 2022 Re: Biotech and China
April 25, 2024 - Bristol Myers Squibb (BMS) is working on contingency plans to “protect the continuity of supply” of medicine in preparation for draft US legislation seeking to restrict Chinese pharmaceutical companies over national security concerns, according to its finance chief.
The Biosecure Act, introduced in the US Congress in January, would prohibit US companies receiving federal grant money from working with WuXi AppTec and any related entities. Three other Chinese companies are named in the draft legislation, including gene sequencing group BGI Genomics.
Bristol Myers Squibb (BMS), relies on WuXi AppTec sister company WuXi Biologics to manufacture some of the active pharmaceutical ingredients in its blockbuster cancer pill Revlimid, according to industry tracker GlobalData.
https://www.ft.com/content/f3b5f2e5-1abc-4848-8ff2-66891d5f5984