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ARTICLE · 14 JULY 2020

Bipartisan Bill Proposes To Leverage CFIUS In Assessing Pharmaceutical Supply Chain

Reed Smith
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On June 30, 2020, United States Senators Elizabeth Warren (D-Mass.) and Marco Rubio (R-Fla.) introduced legislation proposing the Committee on Foreign Investment in the United States.

United StatesGovernment, Public Sector
Michael Lowell
Michael Lowell
Sarah Wronsky
Sarah Wronsky
Manasi Venkatesh
Manasi Venkatesh
Paula Salamoun
Paula Salamoun
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On June 30, 2020, United States Senators Elizabeth Warren (D-Mass.) and Marco Rubio (R-Fla.) introduced legislation proposing the Committee on Foreign Investment in the United States (CFIUS), an interagency committee authorized to review certain transactions involving foreign investment in the United States for national security concerns, and assist the Federal Trade Commission (FTC) in "conduct[ing] a study on the United States' overreliance on foreign countries and the impact of foreign direct investment in the U.S. pharmaceutical industry." In the last decade, CFIUS reviewed a number of mergers and acquisitions in the healthcare industry that resulted in a foreign person obtaining control of a U.S. pharmaceutical supplier, among other pharma entities. More recently, CFIUS jurisdiction was expanded to include not only the review of transactions that result in foreign control of a U.S. business, but also certain non-controlling foreign investments as well, including

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