Ricketts, Slotkin Introduce Legislation to Prevent Offshoring Biotech Industry to Communist China

WASHINGTON, D.C. – Today, U.S. Senators Pete Ricketts (R-NE) and Elissa Slotkin (D-MI) introduced the Biotech Investment National Security Act (BINSA). This bill would ensure American investment in adversary biotechnology is subject to the review requirements of the Comprehensive Outbound Investment National Security (COINS) Act. Specifically, this legislation adds biotechnology, including pharmaceutical development, biologics manufacturing, and clinical research to the list of sectors subject to screening. “America leads the world in innovation across all sectors,” said Senator Ricketts . “This critical legislation ensures American investment in the biotech industry benefits Americans—not our enemies. We cannot allow Communist China to obtain the resources it needs to threaten our way of life. I will fight every effort that weaponizes American investments to undercut our businesses and reshape supply chains against us. Maintaining America’s innovative leadership and global economic dominance is a matter of national security.” “Biotech is crucial for driving economic growth, creating jobs, and spurring innovation in science and technologies, like lifesaving medicines ,” said Senator Slotkin. “But right now, China is eating our lunch in this field. This bill ensures strong U.S. leadership in biotech and protects U.S. intellectual property and investments. We’ve seen China use this playbook before to dominate other critical sectors, such as the automotive industry and drone market. This bill will stop that.” This legislation would: Amend the COINS Act to include biotechnology –specifically pharmaceutical and biological product development—to the list of sectors subject to outbound screening. Make U.S. pharmaceutical licensing deals, joint ventures, and equity investments with Chinese covered foreign persons subject to review by the U.S. Treasury Department. Direct the Treasury Department to consult with Health and Human Services (HHS), the Department of War (DoW), and the Director of National Intelligence (DNI) and implement regulations within one year of enactment. Require the Secretary of Defense to assess within 60 days whether U.S. capital flows into Chinese biotechnology negatively affect national security and military readiness. Companion legislation was introduced in the House by Reps. John Moolenaar (R-MI-02) and Debbie Dingell (D-MI-06) in June 2026. The full text of the bill can be found here .