Car companies are doing it, banks are doing it, and magazines may (ahem) soon be doing it—bailouts are all the rage these days. Which makes it less surprising that the biotech industry is getting in on the action. Lobbyists for the biotech industry are pushing Washington to pass a law granting biotech companies that are currently hemorrhaging money (a.k.a. nearly all of them) a chance to get cash now in exchange for not taking tax credits in the future should they become profitable.
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The effort comes as many smaller biotechnology companies, particularly those trying to develop drugs, are facing a severe cash shortage that is forcing them to dismiss workers, curtail research and even file for bankruptcy protection or liquidation.
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Related:
RB: Reality Check: Biotech
RB: Another Facet of the Health Care Crisis: Miserable Doctors
RB: Get Thee to Medical School!
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