The Pharmaceutical Journal Vol 266 No 7139 p342-343
17 March 2001

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New tax breaks for pharmaceutical R&D

New tax breaks for research and development in the pharmaceutical industry were announced by the Chancellor of the Exchequer (Mr Gordon Brown) in his budget speech on March 7 2001.

The Chancellor said that companies investing in research to develop treatments for malaria, tuberculosis and strains of HIV and AIDS prevalent in the developing world will be eligible for an additional 50 per cent tax relief on qualifying expenditure, in addition to existing reliefs for research and development expenditure. There will also be a new vaccines tax credit to stimulate research into suitable vaccines. He further announced that company donations of medicines and equipment to designated international aid authorities would become fully tax deductible, along with the costs of transport and distribution.

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