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Wednesday, May 7, 2014

Pfizer's plan to avoid US taxes: buy AstraZeneca

So, it looks like Pfizer is going to buy AstraZeneca for the specific purpose of avoiding US taxes.  That's what the Washingtonpost editorial board says today in "Pfizer’s offer to buy AstraZeneca shows that the U.S. needs corporate tax reform."

So the pharma companies will drop us in a second, if we start asking them to pay taxes.  Why don't we do the same to them?  Why are we the one country which allows almost unrestrained monopoly pricing for patented pharmaceuticals?  They tell us it's because they wouldn't invent the drugs in the first place, but of course they sell them everywhere else (including England) for less.  It just seems weird.  But of course, British companies can own just as many US politicians as US companies can, so it's not likely that anything's going to change.  

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