R-e-l-i-e-f is spelled e-l-e-c-t-i-o-n

WASHINGTON - As Washington pundits, real estate agents and lobbyists scramble to exploit opportunities presented by the first Republican Congress in 40 years, a number of legislative opportunities potentially favoring the biotechnology industry also are emerging.

The new Congress presents a variety of chances for the biotechnology industry to move from a negative approach to Capitol Hill, fighting battles to block or mitigate bills that could hurt it, to a more positive engagement. There is a good chance the 104th Congress will pass incentives to capital formation, reforms in tort and liabilities law, and intellectual property reforms.

The new Congress puts to rest some of the industry's biggest fears. Price controls on pharmaceuticals, breakthrough drug committees, and medicare blacklisting are dead

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