"Essential" R&D tax credit says PhRMA
The Pharmaceutical Research and Manufacturers of America (PhRMA) has pressed the US Congress to renew and make permanent a federal tax credit for R&D. The group's president, Billy Tauzin (a former Representative) issued a statement at the start of the legislative debate. He said that the "PhRMA is calling on Congress to renew, strengthen and make permanent the federal research and development tax credit that will not only help America's pharmaceutical research companies build upon the incredible arsenal of new treatments and cures but, most importantly, will help patients in their fight against disease."
Mr Tauzin added that renewal of the tax credit is a "critically important" priority, particularly for the drug industry, which has spent over $55.0 billion on R&D in 2006.
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