NanoViricides Inc. (NNVC)

[Ubertino]

Firms urge Congress to maintain orphan drug credit

Companies are urging Congress not to eliminate the Orphan Drug Tax Credit as Congress begins considering reform of the US tax code. The National Organization of Rare Disorders (NORD), together with more than 70 patient organizations, has sent a letter to Congress defending the credit, as has the organization Rare Disease Legislative Advocates (RDLA).

Connecticut companies such as Alexion, which specializes in developing therapies for ultra-rare diseases, and the start-up Provectra (contact SECT Tech for more information) will benefit from continued availability of the credit.

Paul Pescatello, who oversees state and federal legislative and regulatory matters for CURE, observed: "The Orphan Drug Tax Credit is of course about bringing cures and treatments to patients. It makes possible the R&D that is the foundation of scores of companies and thousands of jobs. It is also one important path out of the healthcare cost crisis — orphan drugs and the orphan drug tax credit that makes them possible reduce the need for hospitalizations, inpatient care, home healthcare assistance, and surgeries, and more than pays for itself."

article re NORD in BiotechNOW
article on RDLA website
Alpha-1 foundation webpage
article in The Financial Times

http://www.curenet.org/curenews/1308orphan/