Despite good data, Ironwood’s shares plummet 

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Today, we’ll discuss how the U.S. government is cracking down on Chinese biotechs, and how that might affect the industry stateside. Also, a positive clinical trial for Ironwood Pharmaceuticals still causes a stock slump, and more.

Scrutiny of Chinese biotechs on the rise

The federal government and lawmakers have both been ramping up scrutiny of Chinese biotech companies lately. The Biden administration just issued an executive order directing federal health officials to guard against providing contracts and grants to companies, including U.S. firms, that could lead to foreign adversaries getting Americans’ sensitive health data.

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