You are here

Gilead saves US$10b in taxes as pricey hep C drug takes off

This boosts its already huge profits, letting firm stash even more billions in tax havens abroad, says advocacy group

BT_20160715_NAHGILEAD15_2386962.jpg
A drug-preparing process at a Gilead lab. The firm prices its full, 12-week Sovaldi-based hep C treatment course at US$94,500.

New York

GILEAD Sciences Inc's profit margin has soared and its tax rate has plummeted since the drugmaker introduced its controversial US$1,000-a- day medication for hepatitis C, according to a report by an advocacy group that accuses the company of using accounting gimmicks to stash...

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes