RAVENSBURG, Germany--(BUSINESS WIRE)--Vetter, a leading contract development and manufacturing organization (CDMO) that specializes in aseptic filling, has announced that the French Ministry for Higher Education and Research recently has renewed the recognition of Vetter as an approved research and development service provider. This re-approval continues to allow companies, subject to the French General Tax Code, to take advantage of the research and development tax credit available in France when outsouring parenteral drug product development activities to Vetter. The renewed approval is granted for the years 2015-2019.
“This continued approval by the French Ministry of Research is a special opportunity for R&D performing companies in France to access the early and late-stage expertise and development capabilities of our company,” said Dr. Claus Feussner, Senior Vice President Vetter Development Service. “The approval is a particularly strong incentive for French companies, whether they already are customers of Vetter or not, since they can continue to take advantage of the tax breaks the French Government has made available, while being in a better position to utilize our services during these economically challenging times with ever-increasing drug development expenses due to greater molecule complexity.”
Further details on Crédit d’Impôt Recherche, and on procedures for obtaining tax credit for eligible companies, are available at:
About Crédit d’Impôt Recherche (CIR)
CIR is a fiscal support for companies involved in R&D expenditure. The CIR is deducted from the tax to be paid or else it is refunded at the end of the third year. However, it is immediately paid to young companies under certain conditions. Companies that can neither deduct the tax credit nor obtain a refund can ask banks for loans on the basis of their research tax credit. The CIR is based on the claimed volume of R&D expenditures. It is equal to 30% of R&D expenditures up to EUR 100 million; beyond this threshold, the rate comes down to 5%. For companies entering the scheme for the first time, the applicable rate is 50% the first year, and 40% the second year.
Vetter is a premier contract development and manufacturing organization (CDMO) and a global leader in the fill and finish of aseptically prefilled syringe systems, cartridges and vials. Headquartered in Ravensburg, Germany, with facilities in Germany and the United States, the company provides state-of-the-art manufacturing, from early clinical development through commercial filling and packaging of parenteral drugs. The CDMO’s extensive experience covers a broad range of complex compounds, including monoclonal antibodies, peptides and interferons. Vetter supports its customers every step of the way, guiding their products through development, regulatory approval, launch and lifecycle management. Known for quality, the company offers a foundation of experience spanning more than 35 years, including dozens of product approvals for novel bio/ pharmaceutical compounds. Since 2014, Vetter operates a representative office in Singapore, increasing the presence of the company and the awareness of its service portfolio in the Asian healthcare market. Visit www.vetter-pharma.com