7.24.2007

Tax Break Used by Drug Makers Failed to Add Jobs - New York Times

Tax Break Used by Drug Makers Failed to Add Jobs - New York Times: "And now drug companies are once again using complex strategies, many of them demonstrably legal, to shelter billions of dollars in profits in international tax havens, according to their financial statements and independent tax experts.

In one popular accounting move, companies declare their foreign markets as far more profitable than their American businesses — even though drug prices are typically higher in the United States than anywhere else in the world."