Life Sciences
Overview
The professionals at Anchin understand the important role the Life Sciences industry has in the future of health care, both nationally and globally, and we provide strategic advice for our clients’ continued growth and success. Our dedicated industry team includes audit, tax and advisory professionals with years of Life Sciences experience identifying issues and solving problems for every type of business within the industry, including:
- Pharmaceutical companies
- Medical device manufacturers
- Biotech companies
- Medicinal chemistry companies
Tailored Services
Services include:
- Accounting and auditing
- Cash flow projections
- Flash reports
- Gross profit by product lines
- Chargeback analysis
- Manufacturing and financial information
- Systems recommendations
- Mergers and acquisitions
- Cost containment analysis
- Tax planning
- Tax credits and incentives
- Research and Development tax credits
Anchin works with clients interested in claiming the R&D credit for the first time and those who have difficulty meeting the contemporaneous documentation requirements needed to support their R&D claim. We also assist clients who have had a significant portion of their R&D claim disallowed and those who need to reassess their R&D credit calculation because the nature of their business has changed.
Research and Development
Does your company qualify for Research and Development (R&D) tax credits? The life sciences industry, particularly within the areas of pharmaceuticals and biotechnology, is in a constant state of flux. Due to the high level of innovation, many of the developmental activities performed by companies in the industry can qualify for the R&D tax credit.
Anchin’s professionals understand the important role the life sciences industry has in the future of health care, both nationally and globally. We also recognize the issues and opportunities facing businesses in the industry, such as data security and the effects of healthcare reform and regulations. Our dedicated team includes audit, tax and advisory professionals with years of experience identifying issues and solving problems for every type of business within the life sciences industry subsectors, including:
- Pharmaceutical companies
- Generics manufacturers
- Medical device manufacturers
- Biotech companies
- Medicinal chemistry companies
Our life sciences industry R&D team ensures that our clients benefit from all of the incentives available to them. Anchin helps clients assess their R&D tax credits at all phases of their business, from the time they first consider entering a new market (white space evaluation) and throughout the product lifecycle. We are particularly skilled and experienced at identifying qualifying projects and initiatives in each area of your business and are experts at examining and capturing all allowable expenses towards your company’s research credit.
Anchin works with clients interested in claiming the R&D credit for the first time and those who have difficulty meeting the contemporaneous documentation requirements needed to support their R&D claim. We also assist clients who have had a significant portion of their R&D claim disallowed and those who need to reassess their R&D credit calculation because the nature of their business has changed.
To learn more about Federal and State Research and Development tax credits.
Orphan Drug Tax Credit
The orphan drug tax credit (ODC) is a federal tax credit available to pharmaceutical companies working to find cures for certain rare diseases. Anchin’s Orphan Drug Tax Credit team is well-positioned to assist companies in the Life science industry maximize this benefit. We understand the science and the tax law and marry our knowledge of both to create value for our clients and lower the burden of scientific development.