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WASHINGTON (AP) — U.S. lawmakers are raising alarms about what they see as America’s failure to compete with China in biotechnology, warning of the risks to U.S. national security and commercial interests. Bills have been introduced in the House and Senate to bar “foreign adversary biotech companies of concern” from doing business with federally funded medical providers. Photos You Should See View All 33 ImagesCritics of the legislation warn that restrictions on Chinese companies would impede advances that could bring a greater good. “It’s not just a supply chain battle or a national security battle or an economic security battle; I would submit it’s a moral and ethical battle,” Gallagher said. He said any restrictive U.S. measures should be tailored to address military concerns and concerns about genomic data security.

Persons: walling, ”, Abigail Coplin, Rachel King, Mike Gallagher, Gallagher, “ It’s, ” Gallagher, “ we’re, Biden, Tom Bollyky, Bollyky, Ray Yip, Yip, “, Anna Puglisi, Puglisi, ” Puglisi, BGI, WuXi AppTec, Dake Kang Organizations: WASHINGTON, — U.S, Biotechnology, Bills, Embassy, Biden, Vassar College, Biotechnology Innovation Organization, National Security Commission, Emerging Biotechnology, U.S . Senate, Chinese Communist Party, Wisconsin Republican, “, Bloomberg, Council, Foreign Relations, U.S . Centers for Disease Control, Georgetown University’s Center for Security, Emerging, The Defense Department, Commerce Department, Associated Press Locations: China, U.S, ”, South China, Wisconsin, Boston, United States, WuXi, Beijing

☆ Here's our first-quarter earnings report card for every stock in the portfolio
▼ + stars: | 2023-06-02 | by ( Zev Fima | ) www.cnbc.com time to read: +17 min

As a result, about 78% of S & P 500 companies reported better-than-expected earnings results, according to FactSet. Though sales came up short of expectations, earnings, operating margin, and return on capital all notched new record highs in a tough economy. We also saw strong sales of key drug Mounjaro along with positive updates for its potential as a weight loss medication. GE Healthcare (GEHC) reported solid results with its first-quarter earnings release as sales and earnings outpaced expectations. Despite the top-line miss, TJX Companies (TJX) delivered better-than-expected earnings as management demonstrated the ability to diligently control expenses.

Persons: Emerson, Eli Lilly, Strong, Humana, Johnson, Morgan Stanley, Wells Fargo, Wells, Estee Lauder, Locker, Jim Cramer's, Jim Cramer, Jim, Hsun Huang, Patrick T Organizations: Club, Halliburton, HAL, Linde, LIN, Microsoft, Nvidia, Palo Alto Networks, billings, Procter & Gamble, Devices, Caterpillar, Costco, Coterra Energy, Management, GE Healthcare, Honeywell, Johnson, Wynn Resorts, WYNN, Valley Bank . Disney, Natural Resources, Constellation Brands, TJX Companies, Bausch Health, Nike, Jim Cramer's Charitable, CNBC, Nvidia Corp, Mobile, Fallon, Bloomberg, Getty Locations: Washington, North America, United States, Wells, Macau, Asia, Los Angeles , California

☆ Google's ex-CEO Eric Schmidt tapped for federal biotech commission that allows members to keep biotech investments
▼ + stars: | 2023-01-31 | by ( Eamon Javers | ) www.cnbc.com time to read: +7 min

On Dec. 30, leaders of the House and Senate Armed Services committees announced the selection of former Google CEO Eric Schmidt and 11 others to serve on a new federal commission on biotechnology. The appointment, however, doesn't require commission members to divest their own personal biotech investments — even as they help shape U.S. policy overseeing the industry. The person didn't say when Schmidt made the decision to donate profits, adding that he hasn't yet named any recipient charities. The new federal commission will likely have a say in steering such investments over the two years of its lifetime. Schmidt's biotech investments are relatively recent.

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