China competition spurs Biden push for domestic biotech subsidies

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China competition spurs Biden push for domestic biotech subsidies
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President Biden will issue an executive order Monday intended to boost the domestic biotechnology industry, which encompasses everything from pharmaceutical manufacturing to plastics to innovative fuels, according to White House officials.

Biden’s son Beau, the former Delaware attorney general, died of brain cancer in 2015 at age 46 and Biden has championed a “cancer moonshot” program since his time as Barack Obama’s vice president. Biden is scheduled to deliver his remarks at the John F. Kennedy Presidential Library and Museum. Theis timed to coincide with the 60th anniversary of a 1962 Kennedy speech that touched on his goal of putting a man on the moon.

The White House did not disclose funding levels for the new push Sunday, saying a dollar amount would be part of announcements later in the week. Biden is scheduled to host a summit on Wednesday with industry representatives.

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