An important note. The Biosecure act which has already passed the House and is said to likely pass the senate later this year should deliver more opportunity to Avid. Basically the act would prohibit executive agencies from contracting with any entity where the biotechnology equipment or services of a “biotechnology company of concern” would be used in the performance of that contract.
Generally speaking, a “biotechnology company of concern” is a biotechnology company that is headquartered in or subject to the jurisdiction of a foreign adversary’s government and poses a threat to national security. China for example.
Nick has stated that they already closed 1 account for a company that was being proactive and ensuring that they contracted with a manufacturer that was not considered a problem under this newly proposed bill. Assuming this bill passes the senate it should be advantageous for Avid with their capacity capabilities. Companies will be moving operations back to the states. Patience…
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