The federal government is pledging more than $2 billion to launch President Biden’s new national biomanufacturing initiative, funding efforts to build or expand drug manufacturing sites in the U.S. and readying the raw materials needed to respond to a new pandemic.
The funding is linked to an executive order Biden signed Monday, laying out a goal of boosting the biotech supply chain and making the U.S. drug industry less reliant on foreign manufacturing.
Most of the medicines sold in the U.S. today are manufactured abroad. “I guarantee that three or four out of every five companies you ask work with contract research organizations like WuXi in China or Samsung Biologics in Korea,” Rahul Singhvi, CEO of the ARCH Venture-backed manufacturing firm Resilience, told STAT.
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