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Tax reform chops orphan drug credit; device tax persists

By Mark McCarty
Regulatory Editor

Thursday, December 21, 2017

Tax reform is headed for the Oval Office for a signature, a bill that provides a mixed bag for the life sciences. While the corporate tax rate will fall by double-digit percentage in the years ahead, the orphan drug tax credit is cut in half and the 2.3 percent medical device tax is set to come back into play as of Jan. 1, 2018.

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