President Joe Biden has signed an executive order meant to boost biotech production and research in the United States, with a senior administration official saying that the presidential action was prompted, in part, by aggressive investment in the sector by China, posing a risk to U.S. competitiveness.
The initiative intends to encourage biomanufacturing in pharmaceuticals as well as in other industries, such as agriculture, plastics, and energy, the White House stated.
‘We Risk Falling Behind’
“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 statement reads.The White House, citing industry analyses, estimated that bioengineering could account for more than a third of global output of manufacturing industries by the end of the decade. This represents nearly $30 trillion in terms of value.
“The initiative will drive advances in biomanufacturing that substitute fragile supply chains from abroad with strong chains at home, anchored by well-paying jobs in communities all across America,” the White House stated.
The measure will seek to grow domestic biomanufacturing capacity, expand market opportunities for bio-based products, enhance research and development, and streamline regulations for biotech products.
A senior Biden administration official told reporters on a Sept. 11 briefing call that while the United States leads the world in biotech innovation, the country risks being displaced by foreign competitors.
“We risk falling behind, as we did in the semiconductor sector and then the advanced telecommunications sector, unless we translate biotechnology innovation into economic and societal benefits for all Americans,” the official said.
“Other countries, including and especially China, are aggressively investing in this sector, which poses risk to U.S. leadership and competitiveness unless we take the kinds of actions that we are with this executive order.”
The senior official wouldn’t say how much funding will be earmarked for the initiative, with Biden to provide more details at a summit on the NBBI on Sept. 14. During the summit, Cabinet agencies will announce a broad range of new biotech and biomanufacturing investments and resources, the White House stated.
“By responsibly harnessing the full potential of biotechnology and biomanufacturing, we will be able to realize the potential of biology that can make almost anything that we use in our day-to-day lives, from medicines to fuels to plastics, and continue to drive U.S. innovation into economic and societal success,” the White House stated.
The White House stated that biomanufacturing processes can program microbes to make specialty chemicals and compounds, and can be used to make alternatives to oil-based chemicals, plastics, and textiles.