Market Institute President Charles Sauer is warning policymakers against sweeping new restrictions on American biotechnology investment that could ultimately strengthen China at the expense of U.S. companies, innovation, and patients.
As Washington considers tighter outbound investment rules targeting biotechnology, Sauer argues that broad restrictions could make it harder for American companies to compete for promising science and investment around the world.
“China wants to lead the world in biotechnology. Our response shouldn’t be to make it harder for American companies to compete. Sweeping outbound investment restrictions could push promising science toward China and Europe while keeping it away from U.S. patients,” Sauer said.
Biotechnology is an increasingly global industry. Restricting where American companies can invest or pursue scientific opportunities does not prevent that research from moving forward. Instead, it can create an opening for companies and investors in China, Europe, and elsewhere to pursue those opportunities without U.S. participation.
Sauer said legitimate national security risks should be addressed through targeted safeguards rather than broad restrictions that place American biotechnology companies at a competitive disadvantage.
American leadership in biotechnology depends on the ability of U.S. companies to compete for the best science, investment, and innovation available around the world.
Read the full Market Institute press release here.
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