Biopharma, patients should demand changes to CFIUS regulation
Commentary: Biopharma, patients need to demand changes to proposed CFIUS rules on genetic information
In a misguided effort to protect U.S. national security, the Treasury Department has proposed barriers to Chinese investments in U.S. biopharma companies that would slow the development of new medicines, constrain funding for emerging companies and divert capital to other countries.
Under the proposed regulations, investments from foreign companies or individuals would be put under the microscope of the Committee on Foreign Investment in the United States (CFIUS) if they involve U.S. corporations that collect and use any personal genetic information.
Biopharma companies, trade associations and patient groups should respond clearly and adamantly: the proposal is bad for patients, innovation and American competitiveness.
As written, the proposal would extend CFIUS reviews to investments in U.S. companies