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American Pharmaceutical Companies Still Aren’t Paying Tax in the U.S.

Most of the major U.S. pharmaceutical companies (AbbVie, Amgen, Bristol Myers Squibb, Eli Lilly, Johnson and Johnson, Merck, and Pfizer) have reported the amount they have set aside out of their 2024 profit to pay their U.S. corporate income tax bill. That number—when the provisions of the top six U.S. companies by revenue is summed—is zero. Less than zero, actually—as several companies report tax losses. Only Eli Lilly actually set aside a significant sum (roughly $1 billion) for its tax paymen...

Read more at cfr.org

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