Bipartisan Senate Bill Would Prevent “Offshoring Biotech Industry to Communist China”

On August 6, 2026, Senators Pete Ricketts (R-NE) and Elissa Slotkin (D-MI) introduced the Biotech Investment National Security Act (BINSA) (S. 5316). According to Ricketts’s August 6, 2026, press release, the bill would ensure American investment in “adversary biotechnology” is subject to the review requirements of the Comprehensive Outbound Investment National Security (COINS) Act. Enacted in December 2025, the COINS Act directs the Secretary of the Treasury to issue regulations restricting U.S. outbound investments in countries of concern involving certain technologies. The Senate legislation would:

• Amend the COINS Act to include biotechnology — specifically pharmaceutical and biological product development — on the list of sectors subject to outbound screening;

• Make U.S. pharmaceutical licensing deals, joint ventures, and equity investments with Chinese-covered foreign persons subject to review by the U.S. Department of the Treasury (Treasury Department);

• Direct the Treasury Department to consult with the U.S. Department of Health and Human Services (HHS), the U.S. Department of War (DOW), and the Director of National Intelligence (DNI) and implement regulations within one year of enactment; and

• Require the Secretary of Defense to assess within 60 days of the enactment of BINSA whether U.S. capital flows into Chinese biotechnology negatively affect national security and military readiness.

Representatives John Moolenaar (R-MI) and Debbie Dingell (D-MI) introduced companion legislation (H.R. 9102) in the House in June 2026.