US Speaker Promises Vote on BIOSECURE Act to Halt Federal Contracts with Chinese Biotech Companies

1. House Speaker's Pledge: House Speaker Mike Johnson (R-LA) has pledged to hold a vote on the BIOSECURE Act this year, which aims to halt federal contracts with Chinese biotech companies that pose a threat to national security and healthcare data.
2. Legislation Overview: The BIOSECURE Act was introduced in January 2024 by Reps. Mike Gallagher (R-Wis.) and Raja Krishnamoorthi (D-Ill.) to prevent federal agencies from contracting with foreign adversary biotech companies, including those from China.
3. Targeted Companies: The bill specifically targets several China-based biotechs, including WuXi AppTec, WuXi Biologics, Complete Genomics, Beijing Genomics Institute, and MGI, which have been labeled as "companies of concern".
4. Impact on Biotech Industry: The proposed legislation has already reduced the confidence of U.S.-based life science companies working with China-based firms by 30% to 50% and has led to interventions such as boosting compliance and legal requirements and diversifying suppliers.
5. Bipartisan Support: The BIOSECURE Act has bipartisan support, with similar legislation introduced in the Senate by Sen. Gary Peters (D-Mich.) and Bill Hagerty (R-Tenn.) titled the Prohibiting Foreign Access to American Genetic Information Act of 2024.