Georgia In Talks With German Solar Manufacturer For Huge New Plant

Two pieces of the U.S. tax code that incentivize decarbonization were dramatically expanded with Tuesday's passage of the Inflation Reduction Act of 2022, making green building elements more financially attractive to developers and property owners.

The sweeping $430B legislation takes aim at a wide swath of President Joe Biden's domestic priorities, including curbing emissions in an effort to slow climate change. To that end, the new law tripled a tax credit and doubled a tax deduction meant to spur sustainable development.

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As venture capitalists pull back on their funding for life sciences, Big Pharma is flexing its considerable financial muscle to grab up smaller biotech companies, providing an injection of capital that could translate into geographic expansion and more investment in the pricey facilities these companies need to operate.

In the first few weeks of August alone, Amgen purchased Chemocentryx for $4B, Gilead purchased MiroBio for $405M, and Pfizer acquired Global Blood Therapeutics for $5.4B. And other big firms struck partnership deals to co-develop research and new therapeutics: Roche struck deals with Poseida and Kiniksa for a total of $810M, GSK partnered with Mersana in a $1.5B deal, and BMS linked up with GentiBio in a $1.9B agreement.

An Endpoints analysis from May suggested deep-pocketed Big Pharma could gobble up nearly 650 public biotech firms if it wanted.

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