Big pharma tax dodging, new report


This September 2017 video from the USA is called New Tax-Funded Cancer Drug Costs $475k Thanks To Big Pharma.

Translated from Dutch NOS TV:

Abbott, Johnson & Johnson, Merck and Pfizer: these largest pharmaceutical companies in the world report significant profits in countries with favorable tax policies, including the Netherlands. This is evident from new research by Oxfam Novib. …

Due to profit shifting, many countries miss out on tax revenues, which are often needed to improve access to health care. On the basis of available figures, Oxfam estimates that the four major pill corporations are dodging an estimated 3.8 billion dollars in taxes in countries such as Australia, Denmark, France, Germany, the USA, Thailand, India and Ecuador. …

Esmé Berkhout, Oxfam Novib’s tax expert, is clear: “Drug corporations seem to be deceiving governments by tax-dodging, they have to pay honest taxes, make their medicines affordable and stop manipulating and influencing governments for their own gain.”

Ella Weggen of Wemos – an independent social organization that focuses on the improvement of health worldwide – agrees with the words of Berkhout: “Tax dodging does not improve the reputation of pharma companies and denies governments money they desperately need for investing in health care”.

US multinationals dodge $180 billion in taxes on foreign profits per year: here.

11 thoughts on “Big pharma tax dodging, new report

  1. Yup, the pharmacy business gets lots of money. I have a friend who own several pharmacy business in Asia and she receives many free holidays around the world every month. Can you imagine, every month, very one week tour. what a life.

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