US bill to restrict business with China's WuXi AppTec, BGI passes House By Reuters
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 09 2024
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Source: Investing.com
House Passes Biosecure Act: The U.S. House of Representatives approved the Biosecure Act, which restricts federal contracts with certain Chinese biotech companies, including WuXi AppTec and BGI, citing national security concerns. The bill passed with a vote of 306 to 81 and now awaits Senate approval.
Controversy and Opposition: Critics, including Representative Jim McGovern, argue that the identification of targeted companies lacks clarity and that the measure is based on misleading allegations, while the affected companies deny posing any national security threats.
About the author

Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.








