The dream of biotechnology, which promised a new age of health and human achievement, has become a nightmare, with its success stories being largely myths and its main beneficiaries being transnational corporations. The covid-19 pandemic is viewed as the greatest success story of biotechnology, but it has also highlighted the risks and dangers of the industry, with the development of a deadly disease and a vaccine that has harmed many people. This covid “success” has led to the New Zealand government introducing the Gene Technology Bill, which contains permissive legislation that favours transnational corporations and ignores public safety and environmental concerns. The bill’s introduction is believed to be driven by trade negotiations with the US, which wants New Zealand to deregulate biotechnology to pave the way for similar deregulation in Europe. Meanwhile, Australia already has a Gene Technology Regulator who has announced a project that is proposing to make gene-altered versions of the flu and then test out various genetic drugs and/or vaccines on human volunteers.