💊 Approximately half of these drugs are in clinical trials, and a third are in early stages.
🇺🇸 The bill aims to prevent US companies collaborating with “foreign adversary biotech companies” from accessing federal funding.
🔒 Major Chinese companies named in the bill include WuXi AppTec, BGI, MGI, and Complete Genomics.
⚠️ The act could lead to increased costs, delays, and impacts on drug launches and FDA submissions.
🔄 Biopharmaceutical companies may look to other suppliers, like Samsung from South Korea, to diversify.
Introduction:
The BIOSECURE Act, introduced in the United States, has the potential to impact more than 120 US biopharmaceutical drugs partnered with Chinese companies that are deemed risks to national security. This article discusses the potential implications of the act on the biopharmaceutical industry and highlights the opportunities for other Contract Development and Manufacturing Organizations (CDMOs), such as Samsung, to fill the gap left by Chinese companies.
- The BIOSECURE Act aims to prevent US companies from partnering with “foreign adversary biotech companies” and restricts access to US federal funding mechanisms for these companies.
- Approximately half of the US biopharmaceutical drugs partnered with Chinese companies could be impacted by the act, with implications for clinical trials, drug launches, and FDA submissions.
- This presents an opportunity for CDMOs based outside of China, such as Samsung in South Korea, to gain market share and establish themselves as major players in the biopharmaceutical industry.
- Samsung Biologics, with its large production facilities and experience in biologics, is well-positioned to take advantage of this opportunity. The company manufactures several approved drugs in the US and plans to expand its capacity and establish sales offices in the US.
- Other CDMOs are also looking to take over the shares left by Chinese companies, resulting in potential growth for the industry.
Conclusion:
The BIOSECURE Act has the potential to significantly impact the US biopharmaceutical industry and its partnerships with Chinese companies. This presents an opportunity for other CDMOs, such as Samsung, to fill the gap and become major players in the industry. The act may lead to increased growth for CDMOs based outside of China and could result in a diversification of suppliers in the biopharmaceutical industry.
