The IP regime will be of particular interest to the pharma sector, as it facilitates both the tax efficient exploitation of patents and other IP at an onshore manufacturing location, as well as the onshore exploitation of IP in a regional hub or principal model. The enshrining of such an IP system within the Irish tax code will enable business to plan with certainty for the exploitation of their IP assets.
It is also expected that the definition of IP qualifying for the relief will be widely drafted, encompassing both traditional elements such as patented R&D including clinical trial data, manufacturing know-how, and marketing intangibles, and the newer forms of IP anticipated in our Pharma 2020 vision of the future shape of the pharma industry, such as the know how surrounding key relationship management, and the exploitation of data which will be generated from patient diagnostics, personalised medication, compliance monitoring, and performance based reward.
The IP regime also looks forward to the increasingly collaborative nature of the pharma industry, and will facilitate a diversified and decentralised R&D partnership approach.
For more details please click on the following link: www.pwc.com/ie/budget2009