: Biden signs executive order targeting biotech as he talks up ‘cancer moonshot’

by | Sep 12, 2022 | Stock Market

President Joe Biden on Monday signed an executive order that aims to boost the U.S. biotechnology industry, with the move coming as he gave a speech in Boston on a “cancer moonshot.” The new order is intended to launch a national biotech and biomanufacturing initiative that will drive federal investments in areas that will define U.S. biotech leadership, according to a senior administration official.

Another senior official said other countries, especially China, are aggressively investing in biotech, and that poses risk to U.S. competitiveness. But officials didn’t give a dollar amount for any potential funding requests tied to the new executive order, saying a figure would come on Wednesday when the Biden White House is slated to host a summit on biotech and manufacturing. The president’s remarks about a “cancer moonshot” came on the 60th anniversary of President John F. Kennedy’s speech about putting a man on the moon, with Biden delivering them at JFK’s presidential library and museum. “On the 60th anniversary of his clarion call, we face another inflection point,” Biden said in his speech, referring to Kennedy’s address. “I believe we can usher in the same unwillingness to postpone, the same national pur …

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