ARTICLE | Politics, Policy & Law
Biotechs deny allegations in House, Senate legislation
By Steve Usdin, Washington Editor
February 3, 2024 2:02 AM UTC
Investors have reacted sharply to mounting pressure in Washington for legislative action against Chinese companies that manufacture equipment or provide services associated with the collection or analysis of genetic information.
Four Chinese companies identified by Congress as “biotechnology companies of concern” have together lost more than $20 billion in market capitalization since the Jan. 26 introduction of legislation in the U.S. House of Representatives that seeks to prevent them, their subsidiaries and affiliates from operating in the U.S. …