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The US Senate passed a bill which would force American companies to drop contracts with Chinese biotech companies and drugmakers before the end of this year. US executives panicked, and informed lawmakers that they couldn't possibly find other manufacturers for at least eight years.
The House of Representatives passed a revised bill that pushed back the deadline until 2012.
The US faces more drug shortages than at any time in decades, and American companies rely on Chinese biotech firms to create compounds worth billions of dollars in the US market.
Resources and links:
US House committee moves quickly to approve bill limiting business with Chinese biotech firms
www.scmp.com/news/china/diplo...
Reuters, Lawmakers urge Biden to call out more Chinese biotech firms
www.reuters.com/world/lawmake...
The Economist, America’s moves against Chinese biotech will hurt patients at home
www.economist.com/leaders/202...
New York Times, Chinese Company Under Congressional Scrutiny Makes Key U.S. Drugs
www.nytimes.com/2024/04/15/he...
Reuters, US bill to restrict WuXi AppTec, Chinese biotechs revised to give more time to cut ties
www.reuters.com/technology/us...