*PHARMA SECTOR: BIOSECURE ACT PASSED | POSITIVE FOR CDMO COMPANIES*
• The Senate House has passed biosecure act with 306 to 81 votes to make drug companies stop doing business with some Chinese biotechs.
• The BIOSECURE Act would prohibit the U.S. government from contracting with, or providing grants to, companies that do business with a “biotechnology company of concern.” It specifically names five Chinese companies: BGI Genomics, MGI Tech, Complete Genomics, WuXi AppTec, and Wuxi Biologics.
• This would further boost the demand outlook for non-chinese companies.
• *Particularly, this would be positive for Indian CDMO companies like...
✅Divis Lab,
✅Syngene,
✅Piramal Pharma,
✅Suven and Laurus*
#teachingtrading #investing #algotrading
J.D. Candidate at St. Thomas University College of Law
2moCongratulations!