Senate Bill Aims To Draw Drug, Device Makers To U.S. With 30% Tax Credit

Sen. Tim Scott (R-SC) plans to introduce a bill Wednesday (June 16) that aims to bring medical product manufacturing to the United States and prevent shortages by providing a tax incentive for products made in certain U.S. areas and creating a new approval pathway for advanced manufacturing technologies. The bill, titled the Manufacturing API, Drugs, and Excipients (MADE) in America Act, would establish a 30% tax credit for drug, drug ingredient, personal protective equipment and diagnostic manufacturing in designated opportunity...