Italy launches Euro 100m pharma investment incentive scheme
Italy has launched a pharma incentive scheme for companies planning to invest in production or r&d.
Italy has launched a pharma incentive scheme for companies planning to invest in production or r&d.
The incentives, for which Euro 100m has been set aside, will be distributed through premium drug price agreements with companies that agree an investment programme in Italy.
Medicines agency AIFA has published details of the scheme on its website. In its tender document, AIFA says that all pharma companies operating in Italy who intend to invest in drugs production or research and development can apply.
The following investments will be considered for incentives:
- investment for the development of Phase I and II trials that have their co-ordinating committee in Italy; there must be at least one Italian researcher on the committee.
- investments to start or expand production sites and/or the hiring of new personnel with permanent contracts who are to be employed in production.
- investments to start or expand r&d centres and/or the hiring of new personnel with permanent contracts who are to be employed in r&d.
The incentives will be worth up to 10% of the sum invested. The investment programme must be for a period of up to 36 months and must start in the period 1 January 2007 to 31 December 2009.
The applications for incentives will be graded through a points system and assessed by a specially appointed commission.
Financial solidity, the sum to be invested and the ratio between the amount being invested and the company's sales will be part of the assessment. Companies will also gain points if Italy is the reference member state in their mutual recognition procedures.
Up to 75 points will be awarded in each of the three different areas: investment in production, investment in pre-clinical research and investment in clinical trials.
Extent of innovation and how much value will be created for Italy's national health service are important factors in all three categories of investment.
The deadline for applications is March 31 2008. The commission will decide which applications are successful by 30 June 2008, although it may take longer if there is a larger than expected number of applicants.