Monday, May 09, 2005

Prescribing a Big Tax Break to Big Pharma

A new corporate tax break promises to let US drug makers to pocket an extra $75 billion in profits from sales overseas.

These big companies have been opposed to Americans re-importing prescription drugs. They claim that they lose money on drugs shipped overseas. But it seems they've been singing a different tune to the IRS. They've been telling the taxman for years that their profits come from international sales. (NYT)

1 comment:

Ken Grandlund said...

No surprise here. At least, there shouldn't be. Thanks for the continued work of highlighting the waste and fraud that abounds.