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Here’s what we know so far about the election results, and what it means for biotech. Plus, Twist Bioscience CEO Emily Leproust explains how DNA could be the answer to data-storage problems. (867 words, 4 minutes, 19 seconds) |
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2022 midterms: what we know so far |
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While results are still being tallied, a few races can give us insight into the new landscape, as we explained yesterday. What’s clear right now is whoever controls the House and Senate will have a slim majority and a tough time governing, and the outcome could impact biotech innovation.
Pennsylvania:Democrat John Fetterman defeated Republican Dr. Mehmet Oz. The biotech industry lost a strong ally with Republican Sen. Pat Toomey’s retirement; Fetterman has been critical of “pharmaceutical companies that jack up the prices.”
Who will control the Senate? TBD—it’s very close. Democrats could keep control, explains CNN.
Not quite a “red wave” in the House:Republicans are still favored to take the House, but it’s not a wave. In Virginia, Democrat Reps. Abigail Spanberger (VA-7) and Jennifer Wexton (VA-10) held their hotly contested seats, though Rep. Elaine Luria (VA-2) lost to Republican Jen Kiggans. Democrats held seats in competitive races in New Hampshire.
“The biotech industry likely will face continued strong headwinds if Democrats control the House and Senate,” said G. Hunter Bates, Partner at Akin Gump Strauss Hauer & Feld LLP. “The most important biotech development on election night is whether Republicans flip either the House and/or the Senate, which would tip the balance in Congress more towards a pro-innovation policy agenda in contrast to the recent focus on price controls by Democrats.”
If Republicans take over: “There will be pressure on Democrat leadership to get as much done as they can before they lose their majorities,” said experts at Todd Strategy Group. “But there are a number of ‘must-pass’ bills that need to get done, all of which will gobble up some floor time,” including government funding, which expires Dec. 16.
The bottom line: We need to spend time meeting with freshmen Members of Congress, as well as those who have been in office for a while, to help them understand the health care ecosystem and how the industry works, said BIO Chair Paul Hastings, CEO of Nkarta Therapeutics. “Being here and being present and spending that time is going to be really important.”
Watch:
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We caught up with Patrick Plues, BIO’s VP of State Government Affairs, to find out what we know about state-level elections.
Most incumbent governors held on to their seats, including Democrats Evers (Wisconsin), Whitmer (Michigan), and Lujan-Grisham (New Mexico).
Democrats won several closely watched gubernatorial races: In Pennsylvania, Josh Shapiro trounced his Republican opponent, Doug Mastriano. And Democrats picked up two previously held by Republicans: Maura Healy in Massachusetts and Wes Moore in Maryland. Finally, New York Governor Hochul beat her Republican challenger to become New York’s first woman to be elected governor.
Democrats won in biotech-heavy states: California, Massachusetts, Illinois, New Jersey, New York, North Carolina, and Pennsylvania will have Democrat governors.
Republicans held most of their states, except Massachusetts and Maryland. Florida Gov. Ron DeSantis crushed his Democrat opponent, Charlie Crist, as did Ohio Gov. Mike DeWine. In Georgia, Brian Kemp handily beat Stacey Abrams.
TBD: Gubernatorial races in Arizona, Nevada, and Oregon are too close to call.
Most interesting: Both chambers of the Michigan Legislature flipped from Republican control to Democrat control for the first time in 40 years, thereby creating a trifecta in the state where Democrats have total control. And the Minnesota Senate seems likely to flip from Republican to Democrat control, giving that party total control in the state. We anticipate prescription drug pricing will become an issue to contend with next session in these states.
State ballot measures brought people to the polls—especially in Michigan (abortion rights), Oregon (the right to health care), and South Dakota (Medicaid expansion), as Axios explains. |
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Twist Bioscience CEO: DNA could clear the clouds hanging over data storage |
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Storing our ever-growing trove of data is becoming unsustainable, necessitating a switch to DNA data storage, argues Emily Leproust, CEO of BIO member Twist Bioscience, in RealClearScience.
The problem: Humans generate 2.5 quintillion bytes of data every day—about 40 million iPhones-worth. The cloud centers holding it consume 1.5% of the world’s electricity, emit more than 200 million tons of CO2 annually, and use 3.5 million gallons of water daily, explains Leproust.
“And with the total quantity of data created doubling every two years, the problem is poised to get much worse,” she continues, unless society shifts to a radically cleaner way of storing precious data.”
The solution: “Instead of storing it electronically, scientists are optimistic that we could soon encode data into strands of DNA,” she explains.
How it works: Twist Bioscience stores DNA data within inanimate objects, like powder or glass. DNA uses the A-C-T-G of genetic code—instead of the 0s and 1s of computer code—making it exponentially more efficient than the cloud and requiring no energy or water to store.
Read the whole thing. Listen: Emily Leproust recently joined the I am BIO Podcast to discuss this topic—listen here. More Agriculture and Environment News: UN: ‘Zero tolerance for greenwashing,’ Guterres says as new report cracks down on empty net-zero pledges
“While a growing number of governments and non-state actors are pledging to be carbon-free, the criteria for net-zero commitments can have loopholes wide enough to ‘drive a diesel truck through,’ the UN Secretary-General decried as his expert group on the matter published its first report on Tuesday.” |
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President Biden’s Wednesday: Preparing for “a horrible two years” (his words) if Republicans take control of Congress, says CNN.
What’s Happening on Capitol Hill: Counting ballots. |
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