J P M O R G A N Asia Pacific Equity Research 13 October 2025 China Healthcare Geopolitical risks re-emerging but actual impact of Biosecure Act could be small Following the recent passage of the 'lighter' version of the Biosecure Act bill (S.Amdt.3841 to S.Amdt.3748) as an amendment to the NDAA (National Defense Authorization Act) 2026 by the US Senate, and President Trump's announcement of an additional 100% tariff on imports from China, we anticipate rising concerns among China healthcare investors regard ...