This week’s “Fiscal Cliff Bill” included some key provisions that help support biotech innovations here in Arizona. Continue reading
Over the last decade, Arizona’s bioscience sector has made amazing progress in building foundational infrastructure for research and discovery in the life science sector. This next decade of focused collaboration is our opportunity to move up the ranks and along the path from Discovery to Development to Delivery. Continue reading
BioCentury This Week looks at What’s on the Table for Innovation and HealthcareContinue reading
AZBio partners with LexisNexis and State Net to bring you all the latest updates from Washington DC and around the nation. Check out the latest in the December 17, 2012 edition.
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Veterans Haener & Tassinari Joined by New Partner Tom FarleyContinue reading
Leaders from over 800 organiztions and companies focused on grwoing our econony and supporting medical device innovation sent a letter to Senate leadership this today calling for repeal of the medical device tax.
The letter included three important reasons to suport repeal:
The tax will stifle innovation and cost thousands of high-paying jobs. It will increase the effective tax rate for many medical technology companies, thereby reducing financial resources that should be used for R&D, clinical trials and investments in manufacturing. The impact will be especially hard on smaller companies whose innovations are not immediately profitable.
The tax will increase health care costs as confirmed by a report issued in April 2010 by the Office of the Actuary at the Centers for Medicare and Medicaid Services (CMS). In some cases, the 2.3% tax will be passed on to consumers, leading to higher health care costs.
The tax will not be offset by increased demand for medical devices. In fact, it is important to note that there is no evidence suggesting a device industry “windfall” from healthcare reform. Unlike other industries that may benefit from expanded coverage, the majority of device-intensive medical procedures are performed on patients that are older and already have private insurance or Medicare coverage. Where states have dramatically extended health coverage, such as in Massachusetts where they added 400,000 new covered lives, there is no evidence of a device “windfall.”
At a time when the federal government is working to promote investment in U.S. industries of the future, it is inconsistent that a tax of this magnitude would be considered on the medical device industry. We must do all we can to encourage and promote research, development, investment and innovation. Instead, increased taxes, such as this one on the medical device industry, coupled with the increased regulatory uncertainty the industry also faces, will lead to further job losses, hinder the development of breakthrough treatments and delay patient access to medical technology.
To read the full text and view the list of signatories, please cliche here: 2012-11-13 Medical Device Tax letter to Senate Leadership
AZBio honors Arizona Legislators with 2012 Trailblazer Award:
Carter, Campbell, McCune Davis, McComish, Melvin, Taylor Landrum, Tobin, Tovar, Williams, and Yee recognized for supporting research, education, innovation and the growth of Arizona’s bioscience sector.Continue reading
2012 marked one of the most media heavy campaigns on record. From TV to radio and email to Facebook and Twitter,the info flowed in. We all were greeted with full mailboxs at home each evening. Now that the votes are in, here is your post election update.Continue reading
A widely respected and tireless civic leader, Rick Myers is a visionary and a strong advocate for promoting the biosciences in Arizona. Rick serves as the Governor-appointed Chair for the Arizona Board of Regents and advocates for growing the research enterprise and promoting biosciences.Continue reading
> $10 Million in Contract Funding Opportunities Available for Innovative Small Businesses in Cancer Research and Technology DevelopmentContinue reading