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Monday, September 26, 2022
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    HomeHealthWyden says Merck and Abbott aren't cooperating with probe into pharma tax...

    Wyden says Merck and Abbott aren’t cooperating with probe into pharma tax practices

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    In his ongoing quest to probe pharmaceutical business tax practices, the pinnacle of the U.S. Senate Finance Committee is urgent Merck and Abbott Laboratories to supply detailed monetary data that to date, the businesses have refused to submit.

    In letters despatched on Wednesday, Sen. Ron Wyden (D-Ore.) famous that, for the reason that 2017 passage of a tax regulation lowered tax charges for big pharmaceutical corporations headquartered within the U.S., each Merck and Abbott paid considerably lower than the 21% company tax charge. Merck paid 11% final 12 months, whereas Abbott paid 13.9%. (Here’s the letter to Merck, and the letter to Abbott).

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