Subsidies and tax credits we are announcing today will support the small biotech companies with high potential for large scale throughout the country, said Secretary Sebelius. With this funding, will be able to hire more staff, improve facilities and go ahead with research projects that otherwise would have been put on hold. We can not afford to see promising discoveries discarded or innovative businesses to move to ‘abroad. Thanks to the financing of today, companies can avoid these obstacles and continue to do business here in the U.S. The United States is the most innovative companies, entrepreneurs, workers most ambitious and most productive in the world, said Secretary Geithner. These grants will help ensure that our companies, entrepreneurs and workers can continue to invest and innovate, which will strengthen our economy today and in the future.
A total of 2923 companies specializing in biotechnology and medical research in 47 states and the District of Columbia have received awards under the program of drug discovery projects created by the Affordable Care Act. A total of 4606 applications from nearly 3,000 companies have received funding.
Treasury Secretary Tim Geithner and Secretary of Health and Human Services Kathleen Sebelius, has joined with the NIH Director Dr. Francis Collins to announce the recipients of $ 1 billion of loans newly discovered therapeutic benefits from the project created and Affordable Care Act.S. competitiveness.
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