Statement from No Patient Left Behind on the Treasury’s Proposed Rule to Implement the COINS Act
WASHINGTON, DC - October 1, 2026 - No Patient Left Behind Executive Director Priscilla VanderVeer shared the following statement about the Treasury Department’s proposed rule implementing the COINS Act by restricting U.S. investment in the Chinese biotech sector:
“We share the administration’s commitment to addressing national security challenges and protecting critical technologies. But the healthcare challenges we face mean we have to protect biomedical innovation, too. We can achieve both goals by strengthening America’s position as the world’s leading destination for biomedical research, development, and investment.
“Instead, the administration is pursuing protectionist policies that will undermine U.S. leadership and make it harder for us to compete. This further compounds other hits to U.S. biotech competitiveness, such as Most Favored Nation pricing and proposed expansions to the Inflation Reduction Act’s price-setting provisions – all of which will weaken the very innovation ecosystem we need to sustain American leadership. Patients, especially those desperate for an effective treatment or cure, will bear the ultimate cost.
“It’s possible to protect our national interests while fostering smart global partnerships that advance science and medicine for the benefit of patients everywhere. By being intentional about inventing medicines globally while shoring up U.S. supply chain and manufacturing capacity, we can help ensure global collaboration against our one universal adversary: disease.”
About No Patient Left Behind
No Patient Left Behind (NPLB) is a coalition of biotechnology innovators, investors, healthcare professionals, economists, and patient advocates working to ensure that patients have access to the medicines they need today and in the future. Learn more about NPLB’s latest initiatives at www.nopatientleftbehind.org.