BIO's Comments on the Expanded CFIUS Review Pilot Program
January 15, 2019
On October 10, the Treasury Department announced the launch of a pilot program implementing certain provisions of the Foreign Investment Risk Review Modernization Act (FIRRMA). FIRRMA made several reforms to the procedures of the Committee on Foreign Investment in the U.S. (CFIUS), the interagency committee tasked with reviewing transactions with foreign investors that may pose national security risks. The pilot program will implement some of these reforms on an expedited basis to enable CFIUS to review foreign investments in “critical technologies” in biotechnology, nanotechnology, and other industries that may pose risks to national security. Because of the pilot’s 30-day effective date, covered transactions will soon be subject to the increased CFIUS review. Accordingly, biotechnology companies should conduct a detailed analysis to determine whether their technologies are captured by the pilot program.
Download Full Comments Below
Final BIO Comment Letter On CFIUS Pilot - 11.9.2018
The Biotechnology Innovation Organization appreciates the opportunity to comment on the Center for Medicare and Medicaid Services’ Information Collection Request on the Part C and Part D Medicare Prescription Payment Plan Model Documents.
We are writing to express our strong support for the bipartisan Optimizing Research Progress Hope and New Cures (ORPHAN Cures Act). The legislation, which was introduced by Reps. John Joyce (R-PA) and Wiley Nickel (D-NC) in September,1 corrects a…
On October 10, the Treasury Department announced the launch of a pilot program implementing certain provisions of the Foreign Investment Risk Review Modernization Act (FIRRMA). FIRRMA made several reforms to the procedures of the Committee on Foreign Investment in the U.S. (CFIUS), the interagency committee tasked with reviewing transactions with foreign investors that may pose national security risks. The pilot program will implement some of these reforms on an expedited basis to enable CFIUS to review foreign investments in “critical technologies” in biotechnology, nanotechnology, and other industries that may pose risks to national security. Because of the pilot’s 30-day effective date, covered transactions will soon be subject to the increased CFIUS review. Accordingly, biotechnology companies should conduct a detailed analysis to determine whether their technologies are captured by the pilot program.