Catheters for closing hole in the heart and improved noninvasive blood glucose measuring
This article was originally published in Clinica
The UK’s R&D sector received a boost last week following an announcement by the government to introduce, from 2013, a scheme to reduce corporation tax from 28% to 10% for patent-derived income. The aim of this so-called Patent Box is to stem the growing tide of drug and technology innovators leaving the UK for kinder tax regimes in the Benelux countries and Switzerland, and to “strengthen incentives to invest in innovative industries”. The scheme only applies to patents granted after new legislation is passed – expected in 2011 – which means the full effects would not be seen for some time. While in the pharmaceutical sector, one of the intended beneficiaries of the scheme, it can take 10 years or more for a new drug to make it to market, and therefore companies will have a long wait before enjoying the lower tax rate. In medtech, where the time between having a patent granted and launching a product is typically much shorter, it is likely to have a more immediate effect.
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