Democrat to vote against bill restricting China's WuXi Biologics, BGI By Reuters
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 07 2024
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Should l Buy ?
Source: Investing.com
Opposition to Biotech Legislation: Congressman Jim McGovern announced his opposition to the Biosecure Act, which seeks to restrict business with Chinese biotech companies like WuXi Biologics, citing a lack of clarity on how companies were selected for inclusion in the bill.
Concerns Over National Security: While supporters argue that the legislation is necessary to protect U.S. health and security, McGovern criticized it as poorly constructed, despite acknowledging the legitimate concerns regarding sensitive information being shared with the Chinese government.
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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.
