Phil English Quoted in New York Times Article on Orphan Drug Tax Credit
Arent Fox senior government relations advisor Phil English weighed in on the ongoing discussion regarding the fate of the tax credit for the development of drugs for rare diseases, also known as orphan drugs.
The current law gives a tax credit to companies who develop pharmaceuticals that treat rare diseases. It also provides the drug company seven years of market exclusivity. As the vote on tax reform looms, one of the provisions being considered for the GOP House plan is ending the orphan drug tax credit. Phil, a former Congressman (R-PA), believes the credit will remain intact in any Senate plan. He said, “I think there is a consensus within the industry and within the advocacy community that the orphan drug credit has been immensely successful in generating innovative investment that has produced a string of successes.” To read the article in full, click here.
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