A recent article in the Pink Sheet discusses the implications of the BIOSECURE Act as it moves toward congressional approval. The act aims to bolster U.S. pharmaceutical manufacturing by reducing reliance on Chinese companies. However, the benefits of this transition are not guaranteed, as stakeholders push for substantial federal funding to support the biopharma industry.
In the Pink Sheet’s “Who Will Reap The BIOSECURE Spoils? US Industry Boost Not Guaranteed”, Anshul Mangal, President, Project Farma – a Precision for Medicine company, highlights the following complexities involved in shifting manufacturing away from China.
- Many companies are actively assessing alternative foreign partners in regions like India and Europe to mitigate production costs if U.S. incentives are lacking.
- Moving manufacturing back to the U.S. could lead to higher development prices, prompting companies to favor more cost-effective options abroad.
- Significant federal investment is crucial to build the necessary infrastructure and address the long-standing workforce shortage in the biomanufacturing sector.
- Bipartisan alignment on the BIOSECURE Act could facilitate essential funding aimed at strengthening domestic supply chains and decreasing reliance on foreign adversaries, a sentiment echoed by other industry experts who recognize the need for a robust financial framework to ensure the U.S. can compete effectively.
Read more about the potential implications in “Who Will Reap The BIOSECURE Spoils? US Industry Boost Not Guaranteed”, published in the Pink Sheet. Subscription required.
