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What is US Biosecure Act and Its Implications

24Aug By PriyankaNo Comments

USA

What is US Biosecure Act and Its Implications

Washington, 24th August 2024: The United States is poised to enact the US Biosecure Act, a groundbreaking legislation that will significantly influence the global biotechnology and pharmaceutical sectors. This Act aims to bolster national security by restricting US federal agencies from engaging with “biotechnology companies of concern,” particularly those associated with China. Key players on this list include companies like BGI, MGI, Complete Genomics, WuXi AppTec, and WuXi Biologics, which are perceived as threats to US interests. The implementation of this Act could unlock considerable opportunities for India's pharmaceutical sector, provided that India enhances its regulatory frameworks to guarantee the safety and effectiveness of its offerings. National Security Considerations ...

Cipla acquired 22 percent stake in GoApptiv

Pharma major Cipla will acquire 21.85 percent stake in GoApptiv on a fully-diluted basis in two phases. The cost of acquisition is Rs 9 crore (Rs 5.80 crore in the first stage and Rs 3.20 crore in the second stage), it said in a regulatory filing. In the first stage, subscription of 15,392 compulsorily convertible preference shares and purchase of 6,927 equity shares is expected to be closed within 30 days from the execution date, subject to certain conditions precedent,.In the second stage, subscription of 12,314 compulsorily convertible preference shares is expected to close by October 31, subject to certain conditions precedent, it added. GoApptiv offers digital solutions for integrated brand sales management, digital marketing and channel engagement for pharmaceutical compani...

Trump has small financial interest hydroxychloroquine firm: NYT

President Donald Trump, who has aggressively promoted the use of hydroxychloroquine to treat coronavirus patients in and has asked India to export the anti-malarial drug to the US, has a small personal financial interest in the French pharma giant Sanofi, one of the manufacturers of the drug, according to a media report. Hydroxychloroquine, an old and inexpensive drug used to treat malaria, is seen as a viable therapeutic solution by President Trump to coronavirus that has so far killed more than 10,000 Americans and infected over 3.6 lakh within weeks. On Monday, Trump warned India that the US may retaliate if it did not export hydroxychloroquine despite his personal request, saying he would be surprised if New Delhi did not relent as it has good relations with Washington. If hyd...