Bernie Sanders Tells Big Pharma image

International Business Times, August 7, 2017
Josh Keefe, quoting Rachel E. Sachs (Academic Fellow Alumna)

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[...] Other experts told IBT federal support of drug development goes well beyond just funding research.

“It’s not so much the money we are actually spending through NIH. We are providing huge value to companies in tax credits, other incentives, expedited FDA approval, exclusivity agreements… all of these are benefits,” Rachel Sachs, an associate professor at the Washington University in St. Louis School of Law told IBT.

Sachs cited a 50 percent tax credit for the development of “orphan” drugs as an example of the government’s support of the pharmaceutical industry. The value of that orphan drug tax credit is estimated to be worth $50 billion between 2016 and 2025, according to the Treasury Department. [...]

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biotechnology health care finance health law policy international pharmaceuticals rachel sachs research funding