October, 23, 2026
PILMA Statement on Proposed COINS Act Implementation
The Pharmaceutical Industry Labor-Management Association (PILMA) is fully committed
to policies that protect U.S. national security. But Treasury’s choice to bring
biotechnology under the COINS Act’s proposed regulatory framework threatens to
curtail the very investments, licensing deals, and research collaborations that power
American biopharma – and with it, the high-quality union jobs that depend on a thriving
domestic industry.
The biopharmaceutical sector is one of the most powerful engines of union employment
in the country. The workers PILMA represents – pipefitters, electricians, ironworkers,
and other skilled tradespeople – build and maintain the advanced facilities where new
medicines are discovered, developed, and manufactured. Policies that impede this
investment and research activity do not protect American workers; they put their
livelihoods at risk.
China is pouring resources into its domestic biotechnology sector with deliberate intent.
This is precisely the wrong moment for Washington to adopt policies that chill
investment and hand our competitors an opening. American life sciences leadership will
not be preserved by adding new restrictions on investments and partnerships. It must
be strengthened by sustained investment in an environment that continues to ensure
the United States remains the most attractive place in the world to discover, develop,
and manufacture medicines.
PILMA calls on Treasury to bring these regulations into sharper focus and target
transactions that pose clear and demonstrable national security risks, not the broad
investments, partnerships, and research collaborations that sustain American workers
and deliver medicines to patients.