Pharma heads in the dark on prices

THE heads of some of the biggest pharmaceutical companies in Australia, appearing before the Senate’s corporate tax avoidance inquiry, are united in their inability to say what people in other countries are being charged for their medicines.

Representatives of the nine multinational pharmaceutical companies – Johnson & Johnson, Pfizer, GSK, Merck Sharp Dohme, Eli Lily, Roche, Novartis, Sanofi and AstraZeneca – were yesterday grilled about their tax arrangements under which they paid just $85 million in tax on more than $8 billion in

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