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Biotechnology Industry Organization BIO
BIO Lauds Senate Passage of Strengthened Two-Year R&D Credit
October 18th, 2008
The Biotechnology Industry Organization (BIO) today lauded U.S. Senate passage of a 2-year extension of the federal research and development (R&D) tax credit and urged the House to pass the package when it is considered on Friday. The R&D tax credit extension is part of the "Emergency Economic Stabilization Act of 2008." "In today's precarious markets, biotechnology companies need the stabilizing influence that the R&D credit can provide," said Jim Greenwood, President and CEO of BIO. "Much of the promise of biotech therapies for auto-immune diseases, 'superbugs,' biofuels, and many other innovations depends on fostering innovative research through measures like the R&D...
Source: Law & Health Weekly (2008-10-18)
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