Will Biden’s Biomanufacturing Initiative Kill Korean Partnership?
The Biden Administration issued an executive order in September centered on bolstering the United States’ biomanufacturing capabilities. The administration intends the initiative to reduce the United States’ reliance on China for pharmaceuticals. However, this wide-ranging initiative has wide-ranging effects, namely on that of Korea’s Biotech Firms. With companies like Samsung Biologics and SK Bioscience, Korea is one of the leaders in global CMO and CDMO supply chain, while some officials in Korea remain unfazed by the initiative or even see a benefit to the situation, others remain unconvinced. Contract manufacturing organizations (CMOs) or contract development and manufacturing organizations (CDMOs) are on alert as to whether or not Biden’s efforts to keep China in check will disadvantage them or not.
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