May 21, 2015 (Washington, DC) – Jamie Macdonald, Chairman of the Association of Clinical Research Organizations (ACRO) and CEO of INC Research, today issued the following statement in support of the introduction of the Domestic Research Enhancement Act of 2015 (H.R. 2481), which modernizes the research and development tax credit to recognize the important role contract research now plays in the development of new pharmaceuticals, biologics and medical devices.
“ACRO commends Representatives Pat Meehan (R-PA), George Holding (R-NC) and G.K. Butterfield (D-NC) for co-sponsoring the Domestic Research Enhancement Act of 2015. This important piece of bi-partisan legislation will help ensure that the United States remains a leader in medical innovation and encourages employment in the high-wage research sector. Pennsylvania and North Carolina remain the leading states for contract clinical research with more than 13,000 employees combined. By enabling contract research organizations to capture a portion of the R&D tax credit that is currently abandoned, this legislation will enable the United States to remain competitive globally. Similar provisions are included in the bi-partisan COMPETE Act (S.537) introduced earlier this year by Senators Tom Carper (R-DE) and Pat Toomey (R-PA). We look forward to enactment this year.”
About ACRO The Association of Clinical Research Organizations (ACRO) represents companies that provide a variety of specialized services that support the development of new pharmaceuticals, biologics, and medical devices. The Association provides an active voice for the CRO industry globally. Through its member companies, ACRO helps improve the quality, efficiency and safety of biomedical research. ACRO member companies employ more than 110,000 professionals worldwide, conduct research in 142 countries and contribute to the development of approximately 95% percent of all new drugs and biologics approved globally. For more information, please visit www.acrohealth.org. Twitter @acrohealth. YouTube @ACROHealthChannel. Facebook.RebelMouse.