Tax and budget bill: wins, losses and missed chances for biopharma industry

The massive tax and budget bill President Donald Trump signed into law on July 4 includes clear benefits for the biopharma industry, along with provisions that will reduce access to healthcare, hurting patients and reducing drug company revenues. Some of the industry’s top priorities were dropped from the legislation. 

The most obvious wins are two changes to tax law: a provision that allows companies to deduct 100% of R&D expenses in the year they are incurred, rather than being forced to amortize them over time, and a time-limited opportunity to fully depreciate certain kinds of property, including investments in manufacturing facilities. ...