Hello, everyone, and nice to see you again. A mild and sunny day is unfolding here on the Pharmalot corporate campus, where the dogs are barking and a needed cup of stimulation is brewing. What does today hold in store? Meetings and deadlines, no doubt. We relate. To help you along, we have gathered a few tidbits. Let us know if you come across something noteworthy yourselves. Meanwhile, have a good one...
FDA Rejects MS Pill From Merck KGgA (Reuters)
FDA Begins Enforcement Action Against Unapproved Meds (Bloomberg News)
Roche Gets EU Backing For Avastin For Breast Cancer (MarketWatch)
Celgene Discloses Fed Probe Of Cancer Drug Marketing (Dow Jones)
Glaxo Offer To Pay Trainee Tuition Fees (BBC News)
Glaxo HIV Drugs Not Tied To Heart Risks (Bloomberg News)
Judge Rules Patent Settlement Documents To Remain Sealed (Dow Jones)
Poor Health Literacy Leads To Poor Rx Adherence (Pharma Times)
Eisai And Sanofi To Partner On Flu Vaccine (Reuters)
Lilly To Shift Lab Work And Two Dozen Jobs (Indianapolis Star)
Abbott Tells Jurors Kaletra Was Clobbered By Competition (Bloomberg News)
Merck Tax Appeal Hits Rahway NJ Residents (NJ Today)
India's Biotech Leaders Criticize Govt R&D Support (Times of India)
FDA Urges Denture Cream Makers To Remove Zinc (ABC News)
Clinipace Buys Regulatory Affairs Unit (Outsourcing Pharma)
1 Comment
Great catch on the Rahway/Merck tax story Ed!
File it as an "over the top" multinational's political muscling of a weakened local government. . . . afterall, Merck has simply shifted a chunk of its tax burden. . . to its laid-off ex-employees, here -- while continuing to reap massive (multi billion dollar) net profits, year after year.
The letter recites that the Merck tax reduction is due to "current nationwide economic conditions". I find that statement to be (at best) only partially accurate.
Afterall, Merck chose to conduct a bust-up transaction, and lay off perhaps 35,000 employees over the last three years, alone (many in and around Rahway). Through it all, though, Merck has continued to take in net aftertax profits of multiple billions of dollars per year.
So it seems that a tax increase passed to individuals in Rahway -- many of whom were also put out of work by Merck, in just the last year -- is beyond the pale.
Just as Merck continues to return several billion dollars of net profits to its shareholders every year, it is certainly able to continue to shoulder its fair share of the tax burden in Rahway -- where it is, in part, generating the revenue (and presently idling the skilled Rahway, NJ workforce).
Just food for thought.
Namaste, one and all.