Report urges co-ordinated tax breaks
Consultancy Charles River has called on EU member states to co-ordinate the tax breaks they offer to pharmaceutical companies for research, to maximise resulting benefits.
Consultancy Charles River has called on EU member states to co-ordinate the tax breaks they offer to pharmaceutical companies for research, to maximise resulting benefits.
A report ordered by the European Commission warns these could be frittered away if used to attract pharmaceutical companies from one EU country to another. Far better, it says, to have a harmonised approach luring business to Europe as a whole from the US or Japan.
Other proposals made in the report, 'Innovation in the pharmaceutical sector'‚ include improving communication between EU companies and regulators, especially towards the end of the regulatory process. According to Charles River 'there is a gap between scientists (and) the regulator', which could be improved by introducing performance goals regarding interaction with industry.
EU companies should also cooperate better and share data to 'increase the predictability' of developments and reduce the cost of failures. 'Although many companies talk about this, there has been relatively little action,' the consultancy said.