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Positive implications of the proposed Biosecure Act for Indian CRAMs players
What is Bio-secure Act -
In January this year, the US house select committee introduced the Biosecure Act, which intends to restrict Chinese biotech companies and manufacturers from accessing US funding and collaborating with pharma companies.
The legislation is also designed to effectively prevent the Chinese CRAMs from passing on information about drugs under development by US companies and also from forwarding genetic information about US citizens who have participated in clinical trials.
The revised clause in the legislation intends to provide six years of grandfathering clause to move to the new vendor. The legislation also bans companies from entering into new agreements or extending existing contracts. The bill still needs to pass the full US House of Representatives and US Senate, before being signed into law by the US president but there is a high likelihood of the legislation passing due to the bipartisan support the bill has gathered.
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