Pfizer, one of the world’s leading drug companies, wants to buy AstraZeneca, set up a nominal headquarters in the United Kingdom, and avoid paying millions of dollars in U.S. taxes.
Never mind that its business model is largely dependent on the U.S. government, which pays for its drugs through programs such as Medicaid and Medicare. Never mind that Americans pay the highest prices for drugs of any people on Earth. It wants to be out of here when it comes to tax purposes.
Click here to read my column in The Wall Street Journal Sunday.
Pfizer is merely following the lead of other drug companies who’ve hatched similar plans. Even Walgreen Co. is considering such a move.
Click here to read my column on that.
Yes, your corner drugstore would like to take your copay, bill your Medicare policy and then pay its taxes in Switzerland.