U.S. to spend more than $2 billion to launch Biden’s biomanufacturing initiative

The federal government is pledging more than $2 billion to launch President Biden’s new national biomanufacturing initiative, funding efforts to build or expand drug manufacturing sites in the U.S. and readying the raw materials needed to respond to a new pandemic.

The funding is linked to an executive order Biden signed Monday, laying out a goal of boosting the biotech supply chain and making the U.S. drug industry less reliant on foreign manufacturing.