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Monday, November 06, 2017

House Republicans Aim To Eliminate Tax Credits For Orphan Drugs

As part of a sweeping tax overhaul bill, House Republicans on Thursday proposed eliminating billions of dollars in corporate tax credits that have played a key role in the booming industry to develop drugs for rare diseases.

For more than three decades, pharmaceutical companies have claimed a 50 percent tax credit for the cost of clinical trials of orphan drugs, medicines intended to treat diseases affecting fewer than 200,000 people.

Sales of orphan drugs hit $36.1 billion last year, according to a report released last month by QuintilesIMS and the National Organization for Rare Disorders. And, according to EvaluatePharma's 2017 Orphan Drug Report, orphan drugs will account for nearly 22 percent of global prescription sales, excluding generics, by 2022.



Anonymous said...

At least now I know why I see so many commercials for drugs that treat diseases that I never heard of.

Anonymous said...

8:15 excellent point, we are the only developed country to do so. Also if I am reading this correctly they plan on saving money by getting rid of tax credits that big pharma uses to speed up clinical trials for potentially life saving medication? What is with the GOP's war on healthcare?

Anonymous said...

820, the answer to your question is $$$

lmclain said...

-By speeding up, you mean fast tracking new drugs without the 7-10 year research period that USED to be in place? With double blind studies, animal research and limited human trials?
THAT "speeding up"???

Speeding up, which you seem to defend, has put some drugs on the market before ANY human trial studies, just to get it out there at $250-$20,000 a dose.
People die. Lawyers get rich. Pharma profits skyrocket.
That's what you are defending and blaming the GOP for a war on healthcare?
obama the dumb monkey pretender STARTED the "war on healthcare" by taking it from millions of working people and giving it to people who call an ambulance for stubbing their toe.
We are 20 trillion and growing in debt.
Someone has to say "this is BS. And it's going to stop."

Enter Mr Trump. And, no, we aren't tired of winning yet.