Pfizer, Merck and Johnson & Johnson shifting profits to avoid billions in tax payments each year: report

Pfizer, Merck and Johnson & Johnson shifting profits to avoid billions in tax payments each year: report

Source: 
Fierce Pharma
snippet: 

In a new report, Oxfam concludes that Pfizer, Merck, Johnson & Johnson and Abbott dodge $3.7 billion annually—$2.3 billion in the U.S. alone—by shifting profits to tax havens, where subsidiaries pay a lower rate.