Nick Shaxson ■ Pfizer: tax dodger, price gouger
A new report from Americans for Tax Fairness concludes:
“In addition to dodging its fair share of taxes, Pfizer—maker of Celebrex, Lipitor, Lyrica, and Viagra, among many other health-care products—has also been aggressively raising prescription drug prices, thereby straining patients and our health care system and in some cases putting needed medications out of reach.
By dodging taxes while boosting prescription drug prices, Pfizer squeezes American families and communities from two sides at once. In the company’s biggest insult to America yet, Pfizer’s merger will allow it to go on enjoying all the benefits of being based here—everything from a publicly educated workforce to an excellent communications infrastructure to a reliable patent system—without adequately paying to support them.”
The two wealth-extracting techniques go together, very often. This is what modern capitalism is increasingly becoming.
Why doesn’t Pfizer’s leadership focus on what it was originally set up to do: wealth creation? And don’t get us started on shareholder value.
Related articles
🔴Live: UN tax negotiations
EU public consultation on the Anti-Avoidance Directive
Indicator deep dive: ‘Royalties’ and ‘Services’
Submission to EU consultation on Anti-Tax Avoidance Directive (ATAD)
6 November 2024
Stolen Futures: Our new report on tax justice and the Right to Education
Stolen futures: the impacts of tax injustice on the Right to Education
31 October 2024
Hide-seek-hide? On the effects of financial secrecy
1 October 2024
Indicator deep dive: Public country by country reporting
How “greenlaundering” conceals the full scale of fossil fuel financing
How ‘greenlaundering’ conceals the full scale of fossil fuel financing
11 September 2024