Can Anything Stop Drug Companies From Fleeing The U.S. Tax System?
7/22/2014 6:24:44 AM
Friday morning, after five spurned bids, AbbVie, the North Chicago-based pharmaceutical giant finally closed in on a deal to buy Irish drugmaker Shire for $54 billion. One key consequence of the deal: AbbVie will change its tax domicile from Illinois to the U.K., reducing its tax rate.
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