Skip to Main Content

In his ongoing quest to probe pharmaceutical industry tax practices, the head of the U.S. Senate Finance Committee is pressing Merck and Abbott Laboratories to provide detailed financial information that so far, the companies have refused to submit.

In letters sent on Wednesday, Sen. Ron Wyden (D-Ore.) noted that, since the 2017 passage of a tax law lowered tax rates for large pharmaceutical companies headquartered in the U.S., both Merck and Abbott paid substantially less than the 21% corporate tax rate. Merck paid 11% last year, while Abbott paid 13.9%. (Here’s the letter to Merck, and the letter to Abbott).

Unlock this article by subscribing to STAT+ and enjoy your first 30 days free!

GET STARTED

Create a display name to comment

This name will appear with your comment