As we’ve done for nearly a decade here, we offer — as a series of posts, this week… commentary on the matters that the largest US pharma concerns have bent the ears of Congress-critters about. We compare, at right, the four we’ve tracked all this time. With the exception of one year (2016), Pfizer has always been about 20% higher on annual spend than the other three — this year, it is around 40% higher.
Here are the details from Q4 2023, as to Pfizer:
…Medicare Part D Rebate Reform, PBMs, Out-Of-Pocket Costs, Government Negotiation on Medicare, Antimicrobial Resistance, March-In….
Comprehensive Corporate Tax Reform, International Tax Reform, OECD Profit Allocation, U.S. Manufacturing Credits, Build Back Better Act, Minimum Tax…..
International Supply Chain/Buy America, Harmonize International Drug Manufacturing Standards, Global Access to Medicines, Foreign Market Access Issues (including IPR)….
TRIPS Waiver, Bayh-Dole March-in-Rights, General IP Issues….
Issues related to drug pricing; implementation of H.R.5376, Inflation Reduction Act of 2022 (P.L.117-169), Issues related to COVID-19 response including vaccines and anti-viral therapies, Issues related to the 340B Drug Discount Program, Issues related to Antimicrobial Resistance, Issues related to Medical Supply Chain Resiliency Act (S.2115/H.R.4307), Issues related to Rebate Reform-PBMs; H.R.5378, Lower Costs, More Transparency Act….
[And one outside firm lists its $60,000 quarterly fee as going toward] “Provide guidance and strategic counsel with regard to regulations and legislation that could impact the pharmaceutical industry generally and/or Pfizer specifically….”
Now you know. Onward — and just consider that taxes are among the most heavily debated part of multi-national pharma’s footprint, in the US economy. Yet they pay next to no US income taxes, on their vast international income — as a rule. Fascinating.
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