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Anti-China bills gain traction, erase $20B in value from four Chinese biotechs

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.