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Business & Finance
Drug development company subsidiary CDE certified for new market tax credit program
February 27th, 2006
Samaritan Pharmaceuticals Inc. (LIV), a drug developer, announce its subsidiary Samaritan Pharmaceuticals New Market Tax Credit, Inc. (SPNMTC) has been certified as a CDE (Community Development Entity) by the Community Development Financial Institutions Fund of the United States Treasury (CDFI Fund). CDE Certification allows the company to participate, directly or indirectly, in the U.S. Department of the Treasury New Market Tax Credit (NMTC) Program. A CDE is a domestic corporation that is an intermediary vehicle for the provision of loans, investments, or financial counseling in low-income communities. Samaritan is working to...
Source: Pharma Business Week (2006-02-27)
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