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President issues business tax reform plan, patent battles heat up in fetal lab test space, and more news.

The U.S. research and development tax credit would be made permanent and the process for claiming it would be simplified under a framework for business tax reform issued by the Obama administration Feb. 22. In addition, the plan would increase tax deductions for domestic manufacturing activities, with a particular focus on reducing tax rates for “advanced” manufacturing. Overall, the administration says it aims to lower the corporate tax rate from about 39% to 28%. It would also establish a minimum tax on foreign earnings to discourage companies from moving investments overseas.

AdvaMed CEO Steve Ubl called the framework a “welcome step.” However, he said, “For medical technology companies, effective tax rates for activities located abroad are much lower than the effective...

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