February 2, 2010 — 11:43am ET | By Tracy Staton


How does pharma fare under President Obama's proposed budget? The short answer is so-so. Generics makers would have to pay new fees. Multinational pharma firms most likely would pay more in taxes. But drugmakers wouldn't see as large a tax increase as they might have if the president had opted to go ahead with a full-scale collection of taxes on overseas income.

First, the fees: Generics makers would be subject to new fees to cover the cost of quicker review of regular generics and to set up a mechanism to review generic biologics. The fees would also help fund an effort to clear the backlog of current generic apps. According to Reuters, the generics firms have generally supported the idea of paying these new fees, provided the FDA follows through on its promise to speed up approvals.

Meanwhile, the foreign tax issue: The Obama administration had threatened to completely close the overseas-income tax loophole, collecting an additional $210 billion from U.S. businesses as a result. Instead, it's only expecting to collect an additional $122 billion, via a range of international tax changes.

The one most interesting to pharma is a change to rules on transferring licenses, patents, trademarks and other intangible property to overseas tax havens. The new rules would force companies to pay U.S. tax when income is generated by products whose licenses have been transferred to low-tax countries, and that income is considered an "excessive return" because of the tax savings, Bloomberg reports. If the law passes, we'd expect plenty of lawyers to leap on the chance to advise pharma on just what that excessive return might be.



Read more: http://www.fiercepharma.com/story/pharma-pay-under-obama-tax-plan/2...

Views: 34

Comment

You need to be a member of 12160 Social Network to add comments!

Join 12160 Social Network

"Destroying the New World Order"

TOP CONTENT THIS WEEK

THANK YOU FOR SUPPORTING THE SITE!

mobile page

12160.info/m

12160 Administrators

 

Latest Activity

Burbia commented on Burbia's blog post Mystery illness strikes Russia with fever, blood symptoms, and no cure in sight.
1 hour ago
Burbia posted a blog post

Mystery illness strikes Russia with fever, blood symptoms, and no cure in sight.

I guess releasing this bio-weapon upon Israeli neighbors would be hitting too close to home. I…See More
1 hour ago
tjdavis posted videos
4 hours ago
tjdavis posted a video

The Electric State | Final Trailer | Netflix

Together, robots & humans can take the whole system down. THE ELECTRIC STATE starring Millie Bobby Brown, Chris Pratt and directed by the Russo Brothers, onl...
yesterday
Less Prone favorited Sandy's video
yesterday
Doc Vega's 7 blog posts were featured
yesterday
tjdavis's blog post was featured
yesterday
Sandy posted a video

"Mommy Tells Me I'm a Girl"-Jeff Younger

Soft White Underbelly interview and portrait of Jeff Younger, a father who is fighting to protect his son from transitioning into a girl. Get 40% off access ...
yesterday
tjdavis posted a video

MindWar: Full Spectrum Cognitive Dominance [Michael Aquino Analysis]

This is my analysis and my thoughts on Michael Aquino's "MindWar". This document is a must-read if you are looking to understand the psyop tactics and cognit...
Saturday
Doc Vega posted a blog post

A Horrid Murder at Land Between the Lakes (Sasquatch?)

 Most of us hear that Sasquatch-Bigfoot are intelligent yet reclusive creatures that are closely…See More
Friday
Doc Vega posted blog posts
Thursday
cheeki kea commented on cheeki kea's video
Thumbnail

Metropolis (1927) Full Movie | 4K Color Remastered: 2023 Colorized with Gottfried Huppertz Score

"Hey thanks for the thumbs up guys. I was blown away (like a leaf in a tornado) when I watched this…"
Thursday
tjdavis favorited cheeki kea's video
Thursday
tjdavis posted a video

Did you know this? I was SHOCKED!

Wounder how many people know what they do to baby chicks? Wounder if they know what the are doing to Salmon? What about the lettuce and tomatoes? This will n...
Thursday
cheeki kea posted a photo
Thursday
Less Prone posted a video

Pine Tree Riots - We'll Have Our Home Again

NOW ON SPOTIFY (and everywhere else)!https://open.spotify.com/album/1gWcRqHD7TSbAA2UzYOLWlEvery people deserves a Homeland.Sung by no one in particular.Origi...
Mar 25
Less Prone favorited cheeki kea's video
Mar 24
cheeki kea posted a video

Metropolis (1927) Full Movie | 4K Color Remastered: 2023 Colorized with Gottfried Huppertz Score

🎉🎬 AT LAST❗❗ Metropolis is the FIRST film we colorized using our newly developed AI colorization software, and we are proud to bring it to you now with the...
Mar 24
tjdavis posted a video
Mar 24
Burbia commented on Burbia's video
Thumbnail

ED Raids Entities Linked To George Soros’s Open Society Foundation | Details

"The Directorate of Enforcement is a multi-disciplinary organization mandated with investigation…"
Mar 24

© 2025   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2019 - all rights reserved. unless otherwise noted