Hospira has emerged as a bidder for Danone’s medical-nutrition unit, which makes food for the sick, young and elderly, in a deal that could be worth about $5 billion and is the latest in a flurry of tax inversion deals designed to sidestep U.S. taxes,The Wall Street Journal reports.
US bankers and lawyers are inciting a sense of urgency among corporate clients to get tax-reducing acquisitions of offshore companies signed before the end of this year, now that a slew of recent so-called tax-inversion trades has set off alarms in Congress.
According to a report that Express Scripts released state legislatures will need to find billions in their budgets to purchase costly new hepatitis C therapy, according to a new state-by-state analysis released today by Express Scripts (NASDAQ: ESRX). But their report is near sighted only looking at the immediate costs of the prescription, instead of the longterm cost stagings this therapy can provide.
(Reuters) – Illinois children and adults with epilepsy will soon be allowed to use marijuana to ease their symptoms under a law signed on Sunday by Democratic Governor Pat Quinn, the latest in a series of measures loosening restrictions on cannabis by U.S. states.
The fervor over American companies merging with overseas rivals to lower their tax rates has drawn the ire of the Obama Administration, possibly imperiling the so-called inversion deals that have become increasingly popular in biopharma.
All those drug makers and investment banks chasing tax inversions now face opposition from the Obama administration. Yesterday, U.S. Treasury Secretary Jacob Lew wrote the House Ways & Means Committee, which composes tax law, to urge immediate legislation that would “shut down this abuse of our tax system.” And he suggests making any law retroactive to May 2014.
With antibiotic resistance on the rise at a time when Big Pharma has largely vacated the risk-heavy field, the President’s Council of Advisors on Science and Technology (PCAST) is proposing a number of recommendations to lure companies back into the arena and help speed up the development of new antibiotics.