A Whole New Year For Pharma: Macro Pressures Mount Heading Into Q1 Reporting
First quarter earnings preview: US drug pricing reform, an uncertain regulatory outlook and new focus on M&A are rising challenges that could put the industry's growth at risk.
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"I don't know why folks are anxious to have a race to the top in terms of rates," Joseph Wolk ways. After US tax reform in 2017, lowering the standard tax rate from 35% to 21%, J&J committed to increasing US investment 15% over the next four years.
J&J employs 3,000 more people today than it did before US corporate tax reform in 2017, CFO Wolk said, highlighting the company's US investments.
Video facility tours expected to help clear way for timely drug and biologic approvals while COVID-19 still prevents inspections.