According to reports, the Trump administration is drafting an executive order that plans to impose strict restrictions on Chinese pharmaceuticals, particularly experimental drugs. This policy aims to curb the rapid development of China's biotechnology industry, but may have profound impacts on the U.S. pharmaceutical supply chain and patient access to innovative therapies. Following the news, Chinese biotechnology company BEIGENE saw its stock price drop 12% in pre-market trading, reflecting market concerns about potential policy risks.

**Core Policy Content**

**1. Restrictions on Chinese Experimental Drug Imports** The executive order draft requires stricter scrutiny of transactions where U.S. pharmaceutical companies purchase drugs from China. This could potentially cut off supply channels for low-cost experimental drugs from China, affecting U.S. pharmaceutical companies' research and development and production.

**2. Targeting China's Biotechnology Industry** The Trump administration believes that the rise of China's biotechnology industry poses a threat to the United States. Supporters (such as Peter Thiel and Sergey Brin) advocate for taking tough measures to limit China's influence in the biotechnology sector.

**Impact Analysis**

**1. Impact on the U.S. Pharmaceutical Industry** Supply Chain Disruption: Major U.S. pharmaceutical companies (such as Pfizer and AstraZeneca) rely on low-cost experimental drugs provided by China, and the policy may lead to rising costs. R&D Obstacles: The development of some innovative therapies (such as cancer and obesity drugs) may be delayed due to supply chain issues.

**2. Impact on China's Biotechnology Industry** Market Confidence Shaken: BEIGENE's stock price plunge indicates investor concerns about policy risks. Limited International Cooperation: China-U.S. biotechnology cooperation may face more scrutiny and barriers.

**3. Impact on Patients** Reduced Access to Innovative Therapies: U.S. patients may find it more difficult to access breakthrough drugs developed in China. Rising Healthcare Costs: If U.S. pharmaceutical companies turn to more expensive suppliers, drug prices may increase.

**Industry Reactions and Lobbying**

Pharmaceutical Company Lobbying: Major U.S. pharmaceutical companies are actively lobbying the government, emphasizing their dependence on Chinese drugs and the impact on patients. Political Divisions: Trump supporters advocate for a tough stance, while the pharmaceutical industry calls for balanced policies to avoid harming innovation and patient interests.

If the policy is implemented, China-U.S. biotechnology cooperation will enter a new phase, potentially accelerating the construction of domestic supply chains in the United States, but may also intensify competition in the global biotechnology industry. Chinese biotechnology companies need to adjust their strategies, reduce dependence on the U.S. market, and explore other international cooperation opportunities.