BIO lobbies for Orphan tax credit

The Biotechnology Innovation Organization has asked Congress to retain the Orphan Drug Tax Credit (ODTC) if and when it reforms the U.S. tax code. BIO organized a letter of support for the credit, which was signed by 20 biopharma companies that develop drugs for rare conditions, and sent it to Congress on Oct. 27.

The House Ways & Means Committee is expected to release a draft tax reform plan on Wednesday...