Auxilium/QLT is latest pharma tax play
This article was originally published in Scrip
The announcement by Chesterbrook, Pennsylvania-based specialty pharma company Auxilium Pharmaceuticals that it is to acquire QLT, a Canadian developer of orphan ophthalmology products, is yet another example of companies in the industry exploiting the tax inversion opportunity to escape the US's 35% corporate tax rate, one of the highest in the world.
You may also be interested in...
INFOGRAPHIC: In 2019, 10 blockbuster medicines booked combined sales of $92.5bn. This infographic examines those drugs that commanded the greatest revenues globally, and answers some key questions. Which therapeutic areas include the most lucrative blockbusters? Which companies enjoyed their spoils? And which drugs were new to the top 10 last year? It also takes a look at the position of these products on the all-important US market.
Fundraising in the life sciences sector has been booming even as firms in many other industries are struggling to stay in business. Goodwin’s David Mardle is upbeat about the sector’s ongoing prospects – although M&A deals are currently proving tricky to complete.
See how much the CEOs and R&D heads of the world’s biggest pharma companies get paid, and how those companies are performing.