Major pharmaceutical companies have defended their accounting and tax policies following the release of an Oxfam report, which claims some of industry’s major players hid profits in overseas tax havens.
Repeal of the hotly debated medical device tax would free up research and development resources and bring clinical trials back to the US, say CRO industry executives.
The overhaul of the tax system will allow US pharma firms to access billions in capital, but J&J and Merck & Co. play down any changes in their M&A strategy.
Eli Lilly will invest $850m in its US operations this year but warns the country’s antiquated tax system leaves the firm at a competitive disadvantage.
Pfizer is rumoured to be eyeing up Actavis three months after failing to woo AstraZeneca in a $120bn megamerger, but what would such a deal bring to the Pharma Giant? In-Pharmatechnologist investigates.
The pharmaceutical manufacturing sector in Puerto Rico will thrive because of and not in spite of changes to the country’s tax and incentive laws according to the Puerto Rico Industrial Development Company (PRIDCO).
Pfizer has welcomed Government commitments to keep Ireland’s 12.5 per cent corporation tax rate in face of recent EU pressure to increase it as a condition of the €85bn 7-year IMF bailout.
The UK budget was “a missed opportunity” to encourage manufacturing, according to UK Chemical Industries Association (CIA), but was free from unexpected tax increases.
India is suddenly a safer place to research and manufacture
pharmaceuticals, thanks to legal reform, raised manufacturing
standards and reduced bureaucracy. But risk still lurks in the
loopholes and protectionism.
A science and technology advisory group has called on the Irish
government to ensure that the country remains competitive in the
pharmaceutical and chemical industries by developing R&D
operations and, in particular, fostering...
The biotechnology industry in the state of British Columbia in
Canada could double the number of companies, attract large
revenue-generating biotechnology firms and create more than 5,000
new jobs within five years, says a strategic...
