U.S. Senate Introduces Bill to Restrict Investment in Chinese Biotechnology, Following House Pressure

The U.S. Senate has introduced the Biotechnology Investment National Security Act, which would regulate investment in Chinese biotechnology. Under the bill, the U.S. government would designate pharmaceutical licensing agreements and joint ventures with Chinese companies for review by the Treasury Department. The U.S. government would seek to implement Treasury Department regulations within one year of the bill’s enactment and have the Department of Defense assess its national security impact within 60 days.