Encorium Group Inc (fka ENCO)

[califax]

Encorium receives French Research Tax Credit approval

05 February 2010
http://www.encorium.com/news/pdfs/Encorium_French_Research_Tax_Credit_Approval_5-Feb-2010.pdf

The French Ministry for Higher Education and Research has approved Encorium’s application to conduct R&D activities on behalf of private companies.

This approval allows companies subject to the French General Tax Code to take advantage of the research and development tax credit offered by France. As a result, Encorium’s current and future French customers will be able to benefit from the CIR from 2009 to 2011 by which time the approval is up for renewal.

Research and Development (R&D) tax credits have emerged as one of the preferred tools for promoting and expanding R&D spending. In France the pharmaceuticals industry benefits from one of the best R&D tax-credit system in Europe, which reimburses up to 50% of R&D costs in the first year.

Dr. Kai Lindevall, CEO stated, “We are delighted to announce that our application has been successful. This approval will help our existing and future customers to take advantage of the R&D tax credit enabling them to invest more money into the development of their products. This is yet another example of Encorium’s recognition as a high quality CRO and will further strengthen our market position in France.”
http://www.encorium.com