US Crackdown On Foreign Biotech Investment Makes Us Poorer, Not Safer [Forbes]
MOMENTA PHARMACEUTICALS (MNTA)
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Source: Forbes
US Crackdown On Foreign Biotech Investment Makes Us Poorer, Not Safer Rivalry between the United States and China has spilled over into curbs on the venture financing of biotech innovation. Getty A new US law intended primarily to curb Chinese investment passing Congress 400 to 2 Because of its overly broad implementation and lack of an appeal mechanism, CFIUS is not only drastically reducing Chinese investment into US biotech. It is also threatening our country’s drug discovery engine. If it continues to be applied indiscriminately against all non-US investment, Chinese or non-Chinese, with no route of appeal, CFIUS risks costing further jobs, hurting innovation and downgrading the United States as an innovator country. CFIUS stands for the Committee on Foreign Investment in the United States. Created in 1975, CFIUS review, led by the Commerce Department, historically was applied to deals like the disallowed 2006 acquisition by Dubai Ports World scuttling of the proposed early 2018 a
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