7 ways biopharma would win — and lose — under the new tax bill
From the article:
[...] The drug industry has fiercely defended this tax credit in the past, calling it essential to encourage investment in disease areas where patients have few options — even as it has come under attack from lawmakers and other critics who say it’s being manipulated to build monopolies.
In its statement Thursday, BIO did say it wants to see the legislation amended to maintain the tax credit. But Rachel Sachs, a law professor who studies health policy at Washington University in St. Louis, said she was surprised by how tepid BIO’s defense of the orphan drug tax credit was. (The other big drug industry trade group, PhRMA, declined to comment at all on the proposed change.)
Sachs said she thought the elimination of the tax credit could be a bigger problem for smaller drug companies that may have relied on the tax credit while developing products, and could now find it difficult to operate without it. [...]
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