Proud For Profits
  • Investing
  • Stock
  • Latest News
  • Economy
  • Investing
  • Stock
  • Latest News
  • Economy
No Result
View All Result
Proud For Profits
No Result
View All Result
Home Stock

US bill to restrict business with China’s WuXi AppTec, BGI passes House

by
September 10, 2024
in Stock
0
US bill to restrict business with China’s WuXi AppTec, BGI passes House

By Karen Freifeld

(Reuters) – The U.S. House of Representatives on Monday passed a bill that aims to restrict business with China’s WuXi AppTec, BGI and several other biotech companies on national security grounds.

It was the first floor vote for the Biosecure Act, which would prohibit federal contracts with targeted firms and those that do business with them.

Supporters argue the measure is necessary to protect Americans’ personal health and genetic information as well as U.S. pharmaceutical supply chains.

The bill passed by 306 to 81, easily topping the two-thirds majority necessary under the process.

The legislation must pass the U.S. Senate before it can be sent to President Joe Biden to be signed into law.

In debate on the House floor earlier on Monday, Representatives John Moolenaar and Raja Krishnamoorthi, the chair and ranking member of the House Select Committee on China, respectively, were among those who argued in favor of the legislation.

Representative Jim McGovern, a critic of China’s human right abuses, opposed the bill, arguing that he could not get a clear answer for how the companies were identified. WuXi Biologics (HK:2269), which is targeted, is constructing a facility in his district in Massachusetts.

The U.S. Senate’s Homeland Security committee voted in March to approve a similar bill, but it is unclear if and when the full Senate will vote on the legislation.

Other companies named are MGI and its California-based subsidiary Complete Genomics.

The targeted companies say the measure is based on false and misleading allegations and that it would limit competition. They deny posing any threat to U.S. national security and each say they should not be included in the bill.

This post appeared first on investing.com
Previous Post

Australia plans social media ban for children

Next Post

Apple iPhone 16 reveal offers ‘no surprises,’ AI rollout in focus- analysts

Next Post
Apple iPhone 16 reveal offers ‘no surprises,’ AI rollout in focus- analysts

Apple iPhone 16 reveal offers ‘no surprises,’ AI rollout in focus- analysts

Enter Your Information Below To Receive Trading Ideas and Latest News

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    Popular News

    NevGold Mobilizes Drill To Test Historical Leach Pads To Advance The Near-Term Antimony Production Scenario at Limo Butte

    NevGold Mobilizes Drill To Test Historical Leach Pads To Advance The Near-Term Antimony Production Scenario at Limo Butte

    March 13, 2026
    Cartier Cuts 7.1 g/t Au over 8.0 m at Portal ; New Shallow High-Grade Gold Zone Discovered

    Cartier Cuts 7.1 g/t Au over 8.0 m at Portal ; New Shallow High-Grade Gold Zone Discovered

    March 13, 2026
    US destroys 16 Iranian mine boats as Strait of Hormuz oil showdown escalates

    US destroys 16 Iranian mine boats as Strait of Hormuz oil showdown escalates

    March 12, 2026
    Track all markets on TradingView

    About Proud For Profits

    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Main Categories

    • Investing
    • Stock
    • Latest News
    • Economy

    Latest News

    • NevGold Mobilizes Drill To Test Historical Leach Pads To Advance The Near-Term Antimony Production Scenario at Limo Butte
    • Cartier Cuts 7.1 g/t Au over 8.0 m at Portal ; New Shallow High-Grade Gold Zone Discovered
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2026 proudforprofits.com | All Rights Reserved

    No Result
    View All Result
    • Investing
    • Stock
    • Latest News
    • Economy

    Copyright © 2026 proudforprofits.com | All Rights Reserved