RecipharmCobra’s French customers to get tax breaks
Under the accreditation, which renews that first granted to parent company Recipharm in 2007, France-based clients can apply for tax breaks for research carried out by the contract development and manufacturing organisation (CDMO)
The credit, or Le Credit d’Impot Recherche (CIR), is based on R&D expenditure. Established companies can claim up to 30 per cent of costs on projects valued up to €100m, after which, the rate drops to down to 5 per cent.
Additionally, for companies entering the scheme for the first time, the applicable rate is 50 per cent the first year, and 40 per cent the second year.
Business Development manager Philip Ridley-Smith told Outsoucing-pharma that: “Any help at the moment for research is required and such schemes can provide the impetus to drive innovation.
“Lowering the cost of investment to innovate will certainly keep companies focused on their R&D.”
He also advocated the introduction of similar schemes elsewhere, explaining that: “RecipharmCobra would certainly invest in going through the proposal process in other countries if we were eligible to do so, as it would be of significant benefit for our customers.”
“However,” Ridley-Smith continued “[at present] this scheme is currently unique to France. It would be beneficial if this did become a European wide scheme.”
And, while there are clear benefits for French customers, RecipharmCobra VP Simon Saxby is confident renewed recognition as an R&D provider will benefit the firm’s business in the country.
“RecipharmCobra is already an active player in the French market and we will continue improve our services more than ever during these economically testing times.”
