• STAT+: Pharmalittle: Purdue bankruptcy plan clears a major hurdle; Senate Finance chair probes AbbVie over taxes

    15 days ago - By STAT

    Good morning, everyone, and how are you today? A spot of rain, and then some, is dousing the Pharmalot campus, but we are looking past the clouds. After all, the glass is always half full, yes? As George Burns used to say, ‘I look to the future, because that's where I'm going to spend the rest of my life.' So join us as we hoist a cup of stimulation to celebrate what lies ahead. And dig in to the list of interesting items below, too. Hope you have a splendid day and stay dry....
    The COVAX program sponsored by the World Health Organization raised another $2.4 billion from donors to fund...
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  • STAT+: Senate finance chair investigates AbbVie over its corporate tax strategy

    15 days ago - By STAT

    AbbVie, which is already being probed by congressional Democrats for its pricing practices, is now being investigated by Senate Finance Committee chair Ron Wyden, who accused the drug maker of shifting profits offshore and registering patents in low-tax jurisdictions to consistently avoid paying U.S. corporate income taxes.
    In a letter sent to AbbVie chief executive officer Richard Gonzalez, Wyden questioned how the company has paid “a stunningly low effective tax rate” and regularly reported net losses in the U.S. and net income outside of the U.S., even though it is headquartered in the...
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