The Role of the U.S. ODTC in Pharmaceutical M&A Valuation: Implications for Late-Stage Orphan Drug Transactions

I’ve spent 20 years hunting for new drugs. I’ve seen great science fail simply because the deal economics didn't add up.
 
Most people think the Orphan Drug Tax Credit is just for the "tax team." They’re wrong. It’s a valuation lever.
 
If you’re running a Phase II or III trial and you aren't modeling the ODTC, you’re undervaluing your company. It’s effectively a 25% discount on your development runwa, and the reason U.S. buyers are outbidding everyone else.
 
I broke down the M&A math in my latest piece.
 
Worth a read if you’re planning an exit!
https://lnkd.in/eSMnuFNr