On Oct. 22, the U.S. Department of the Treasury proposed extending restrictions on American investments in foreign companies under the Comprehensive Outbound Investment National Security, or COINS, Act to biotechnology, including pharmaceutical research.
Treasury’s goal of protecting national security is laudable.
But restricting American drugmakers’ access to promising research beyond our borders could benefit our foreign competitors — and ultimately deprive patients globally of lifesaving medical advances.
U.S. pharmaceutical companies have long set the pace for medical innovation.
The American system has historically rewarded risk-taking, attracted private capital from all over the globe, and given scientists the opportunity to profit from their discoveries.
Beijing has spent years trying to challenge our dominance, pouring resources into pharmaceutical research and helping Chinese drugmakers become formidable competitors.
Chinese companies accounted for 39% of global cancer clinical trial starts in 2024, up from just 2% in 2009. American companies’ share, meanwhile, fell from 39% to 32%.
A June 2026 analysis from the Information Technology and Innovation Foundation found that China now accounts for more than 31% of the global drug development pipeline — representing over 7,100 experimental medicines.
Yet Treasury’s proposal threatens to put American drugmakers at a competitive disadvantage just as their Chinese rivals are gaining ground.
Read the entire op-ed here.
US Can’t Beat China by Handcuffing Our Stateside Pharma
Sally C. Pipes
Washington should be strengthening America’s advantages in pharmaceutical innovation, not undermining them. We won’t beat China by handcuffing our own drugmakers.
On Oct. 22, the U.S. Department of the Treasury proposed extending restrictions on American investments in foreign companies under the Comprehensive Outbound Investment National Security, or COINS, Act to biotechnology, including pharmaceutical research.
Treasury’s goal of protecting national security is laudable.
But restricting American drugmakers’ access to promising research beyond our borders could benefit our foreign competitors — and ultimately deprive patients globally of lifesaving medical advances.
U.S. pharmaceutical companies have long set the pace for medical innovation.
The American system has historically rewarded risk-taking, attracted private capital from all over the globe, and given scientists the opportunity to profit from their discoveries.
Beijing has spent years trying to challenge our dominance, pouring resources into pharmaceutical research and helping Chinese drugmakers become formidable competitors.
Chinese companies accounted for 39% of global cancer clinical trial starts in 2024, up from just 2% in 2009. American companies’ share, meanwhile, fell from 39% to 32%.
A June 2026 analysis from the Information Technology and Innovation Foundation found that China now accounts for more than 31% of the global drug development pipeline — representing over 7,100 experimental medicines.
Yet Treasury’s proposal threatens to put American drugmakers at a competitive disadvantage just as their Chinese rivals are gaining ground.
Read the entire op-ed here.
Nothing contained in this blog is to be construed as necessarily reflecting the views of the Pacific Research Institute or as an attempt to thwart or aid the passage of any legislation.