R&D Tax Credit | Pharmaceutical & Medical Devices
We have experience working with companies in the Pharmaceutical industry, identifying suitable innovation funding and incentive solutions for their businesses.
R&D TAX CREDIT IRELAND
Pharmaceutical & Medical Devices
With many of the top Pharmaceutical and Medical Device companies either currently moving to Ireland or already conducting R&D in Ireland, the landscape of these industries are on the rise with no end in sight.
In order to bring a product to market, the pharmaceutical industry must integrate expertise in the fields of chemistry, biology, and engineering technology. Utilising these disciplines necessitates a highly specialised and technically advanced level of research and development. Typically, the pharmaceutical sector prioritises the introduction of new products to align with external factors. Consequently, companies in the Pharmaceutical & Medical Device industry are consistently engaged in ongoing R&D efforts.
Examples of Eligible R&D activities in the Pharmaceutical Industry
- Development of a drug formulation, or an improved formulation.
- Replacing an API, raw material, or preservatives in a formulation.
- Development of a new synthesis route.
- Assay development. Analytical method development.
- Improved personal products incorporating never before combined ingredients
- Sourcing new ingredients to overcome sensitivities and eliminate impurities.
- Development of new processes to scale up production without compromising component stability, repeatability, or reproducibility.
- Appreciable improvements to inhibit bacterial growth to extend shelf life
- Overcoming complexities around chemistry, stability, performance, and safety to meet legislative requirements
Examples of Eligible R&D activities in the Medical Device Industry
- Development of an advanced medical device.
- Improve or further improve performance or functionality of a medical device.
- Design and improve design, fabrication, and assembly parameters.
- Design and development of prototype moulds.
- Development of tools, jigs, and fixtures for the medical device.
- Sourcing, identifying, and testing with different materials for the required stiffness, characteristic, and flexibility.
- Development of new manufacturing processes for the new medical device.
Expenditures can include wages, third-party contractor cost (contractor performing R&D in EEA), materials, machinery, equipment, and overheads.
What Braithwaite can do for you
We possess the knowledge of what to include in your claims, the methods to use during the claiming process, and notably, the numerous traps to steer clear of. With our guidance, your company can confidently pursue robust, successful, and compliant R&D tax relief endeavours tailored to the Engineering and Manufacturing sector.
Contact us today for further information: [email protected].
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