The MedZilla.com Employment Report for March, 2014: Obama Administration Proposes Permanent R&D Credit to Pharma Companies to Offset Recent Congressional Budget Changes
MedZilla.com reports: The Unemployment rate remained relatively unchanged last month, although payroll increased by 175,000. (bls.gov, 3/7/14) There were mixed feelings from biopharmaceutical companies as budget changes included both rebates as well as tax incentive proposals from party leaders. (pharmexec.com, 3/7/14)
Seattle, WA (PRWEB) March 18, 2014
The economy remained relatively unchanged this past month, with the Bureau of Labor Statistics situation report announcing the unemployment at 6.7%. While employers were able to add an additional 175,000 new jobs to their payrolls, experts were unable to show an impact to the overall percentage. (bls.gov, 3/7/14)
However, reports from the global outplacement firm, Challenger, Grey & Christmas were more encouraging, as job cuts were down for the second month in a row. The report also hinted that even job cuts within the financial sector were indicative of strengthening moves because of technological momentum, and not out of a backlash from any kind of weakening markets. (challengergray.com, 3/6/14)
"Watching the financial sector has become a kind of barometer gazing; no matter what industry you happen to be in. It's good that even when getting an uncertain jobs report, we can couple that with what the other sectors are doing and get a better idea of what's actually going on. Corporations are using this time to build back up their foundations, and investing back in the economy, technology, and getting a better sense of how people do business. It's a good time to position your skills in the same way," advises Del Johnston, Manager of Client Relations at MedZilla.com.
News out of Washington this month, the Obama administration proposed a permanent research and development credit in order to offset the potential costs encountered by biopharmaceutical companies, as budget changes included both rebates as well as tax incentive proposals from party leaders. Leaders in the Biotechnology Industry Organization were happy with the tax revision.
However, the new White House budget which announced additional plans to reduce the exclusivity period for biotech therapies as well as changes in Medicare coverage and in data protection for biologics drew criticism that the bill had gone too far and could potentially hinder innovation and Research and Development.
John Burkhardt Managing Director of MedZilla.com remarks, "It's a fine line between trying to open up these markets and creating a market conducive to open innovation. To people outside the industry trying to regulate it, it must seem like an elaborate maze. It's important to keep perspective on making sure that the medicines are getting to the people that need them, obviously. However, at the same time, it's vital that the people developing these important pharmaceuticals have the research funding they need to create these lifesaving medicines. Everyone wants to see them get to the right place and find that equilibrium." (pharmexec.com, 3/7/14)