Yao Ming Biotech (02269) issued an announcement. The company noted that the US House Supervisory and Accountability Committee on 2024/5...
Zhitong Finance App News, Yao Ming Biotech (02269) issued an announcement. The company noted that the US House Supervisory and Accountability Committee held a meeting on May 15, 2024 on issues such as a revised draft bill (H.R. 8333). The revised draft bill has several differences from previous versions, including removing content relating to company CEOs and adding a non-retroactive “grandfather” clause to provide a transition period until January 1, 2032. The company also notes that the revised draft bill includes the company in the proposed definition of a “concerned biotechnology company”, and the company is convinced that this is an unreasonable predetermined designation without due process.
As a global biopharmaceutical CRDMO platform, the company has neither a human genomics business nor does it collect human genomic data in any of its global businesses. The company reaffirms that we have not posed, are and will not pose a security risk to the United States or any other country.
Since the legislative process relating to the draft bill is still ongoing, its content still needs to be further reviewed and changed. The company will continue to closely monitor this process and is strongly committed to serving customers around the world and operating in accordance with the strictest compliance standards and applicable laws and regulations in the regions where it operates.