California Life Sciences Statement on AB 1776, the California COMPETE Act

California Life Sciences issued the following statement after Gov. Newsom signed AB 1776, the California COMPETE Act, into law today:

“California’s antitrust laws must take into account the impact the life sciences sector has had in our state and around the world – improving health outcomes and bringing lifesaving treatments to patients.

While the bill’s greatest threats to medical breakthroughs were removed during the legislative process, AB 1776 still marks a sweeping shift in antitrust law, creating uncertainty for the pipeline that delivers new treatments to patients. This is the fourth major antitrust law California has enacted in as many years. We must pause as they begin to take effect.

To continue attracting billions of dollars in investment in California’s life sciences ecosystem, we need a stable, predictable legal environment – not the prospect of another major antitrust overhaul in California next year,” said Sam Chung, Senior Vice President, California Life Sciences.