Investigate Europe has revealed that the 15 biggest pharmaceutical companies in the world operate more than 1,300 subsidiaries in tax havens. This hidden maneuver has allowed them to save more than €580 billion in taxes over the past five years.
This finding comes at a time when patients are facing life-threatening delays in getting medication due to their high prices. Pharmaceutical companies like AstraZeneca, Sanofi, and Bayer, which are among the 15 largest, are defending themselves by saying they are doing nothing illegal.
However, this shocking revelation raises serious questions about the ethical behavior of these companies and how profit is prioritized over people’s lives and health.
Here are some key points from the Investigate Europe report:
- The 15 biggest pharmaceutical companies operate more than 1,300 subsidiaries in tax havens.
- These subsidiaries allow them to avoid paying taxes on a large portion of their profits.
- Over the past five years, these companies have saved more than €580 billion in taxes.
- These savings could be used to lower drug prices and improve access to treatment for patients.
- Pharmaceutical companies are defending themselves by saying they are doing nothing illegal.
- This finding raises serious questions about the ethical behavior of these companies and how profit is prioritized over people’s lives and health.
It is important to note that this is just a summary of the Investigate Europe report. For more detailed information on this shocking revelation, we recommend reading the full report.
Sources:
- Investigate Europe: https://www.investigate-europe.eu/
