Maryland’s life sciences ecosystem has become a key hub along the eastern shore of the United States due to its position in infectious disease research and vaccine development and manufacturing. While the state saw an infusion of billions of dollars in government financing in the development of vaccines, Maryland’s Biotechnology Investment Incentive Tax Credit, is a tool that has been used to attract venture capital funding in the state.
Teva Pharmaceutical Industries Limited is moving its U.S. headquarters to Parsippany-Troy Hills, New Jersey, as part of a plan to centralize the company’s operations on the continent.
Mylan N.V. is best known for producing EpiPen emergency allergy treatments and generic drugs. But a non-pharmaceutical offering – refined coal – has quietly generated hundreds of millions of dollars of tax credits for the company over the last six years that have boosted its bottom line, according to a Reuters review of company filings.