logo
  

Biden Signs Order To Boost US Biotechnology And Biomanufacturing

biotechnology sep12 lt

President Joe Biden signed an Executive Order to launch a National Biotechnology and Biomanufacturing Initiative that will help boost Boost U.S. biotechnology and biomanufacturing sectors.

The initiative will drive federal investments in areas that will define U.S. biotechnology leadership and our economic competitiveness in the coming decades, senior administration officials said in a news conference.

On Wednesday, the White House will host a Summit on the National Biotechnology and Biomanufacturing Initiative. Cabinet agencies will announce a wide range of new investments and resources that will allow the United States to harness the full potential of biotechnology and biomanufacturing and advance the President's Executive Order.

The United States has relied too heavily on foreign materials and bioproduction, and our past off-shoring of critical industries, including biotechnology, threatens our ability to access materials like important chemicals and active pharmaceutical ingredients, the White House said in a fact sheet.

Industry analysis suggests that bioengineering could account for more than a third of global output of manufacturing industries before the end of the decade —almost $30 trillion in terms of value.

The Initiative is expected to help grow domestic biomanufacturing capacity, expand market opportunities for bio-based products, drive research and development (R&D) to solve challenges, improve access to quality federal data, and streamline regulations for products of biotechnology.

Today, many U.S. bio-companies perform their manufacturing abroad owing to the lack of domestic infrastructure. This Initiative will build, revitalize, and secure national infrastructure for biomanufacturing across the United States, including through investments in regional innovation and enhanced bio-education, while strengthening the U.S. supply chain that produces domestic fuels, chemicals, and materials.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT