‘America First’ and the Rise of Chinese Biotech: How New Investment Restrictions Could Reshape the Global Biopharma Industry
The biotech industry's inherently global model for drug development is facing a new challenge, driven not by science, but by an accelerating wave of U.S. trade and investment policy. In December 2025, President Donald Trump signed into law the Comprehensive Outbound Investment National Security (COINS) Act, which helped codify and expand a Biden-era outbound investment program. The new act aims to protect U.S. national interests by requiring notification and oversight of certain outbound...
