Washington DC [US], May 22 (ANI): A press release from the US House Select Committee on China said that Chairman John Moolenaar has asked US Treasury Secretary Scott Bessent, through a letter, to classify biotechnology as a prohibited technology under the proposed COINS Act of 2025.

The letter warned that the US is 'engaged in a fierce biotechnology competition with the PRC', where medical innovation is central to national and economic security. It also stated that China is pursuing a 'deliberate, state-directed strategy to dominate global biotechnology', including drug development, biologics manufacturing, and clinical R&D.

The press release further highlighted the content of the letter.

'The United States is in a fierce biotechnology competition with the PRC, with major consequences for national and economic security,' Chairman Moolenaar wrote, adding that 'the development of innovative medicines now sits at the centre of this competition.' He stated that China is pursuing 'a deliberate, state-directed strategy' to lead global biotechnology, including drug development, biologics manufacturing, and clinical R&D capacity.

He continued that 'US capital flowing into Chinese biotechnology firms through licensing deals, joint ventures, and equity investments is strengthening this strategy and supporting China's rapid movement up the pharmaceutical value chain.' He highlighted that 'cross-border out-licensing transactions between American and other multinational pharmaceutical companies and Chinese biotech firms reached roughly USD 136 billion in 2025' and noted that '48 per cent of large global pharmaceutical licensing deals of USD 50 million or more were signed with Chinese companies last year, compared to 0 per cent in 2020,' saying the trend is still accelerating.

He further expressed appreciation for leadership aimed at maintaining US 'economic, technological, and military dominance over foreign adversaries' and urged the Treasury Department to classify biotechnology as a prohibited technology under the COINS Act.

He specifically called for scrutiny of transactions involving 'pharmaceutical intellectual property licensing, drug discovery platforms, clinical R&D capabilities, and biologics manufacturing and commercialisation know-how'.

The Select Committee on China is a committee in the US House of Representatives formally known as the United States House Select Committee on Strategic Competition between the United States and the Chinese Communist Party.

It was created in 2023 to examine and respond to issues related to the strategic competition between the United States and China, especially the role of the Chinese Communist Party (CCP). (ANI)