Glaxo to settle tax dispute with IRS
Article Abstract:
GlaxoSmithKline PLC of the United Kingdom is to pay out $3.4 billion to the United States Internal Revenue Service for an outstanding taxation dispute running for the last 20 years. The dispute concerned overpayments for products by the American subsidiary to its British pharmaceutical parent company. The Internal Revenue Service is winning the battle of corporate tax avoidance.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2006
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Glaxo in nicotine-drug pact with biotech firm Targacept
Article Abstract:
US-based Targacept Inc. and British firm GlaxoSmithKline PLC have formed a strategic alliance for drug development based on nicotine effects. Glaxo will invest $35 mil initially, including the purchase of about 1.3 mil Targacept shares for $15 mil. Research will focus on brain pathways used by nicotine in order to develop drugs to treat pain and other disorders.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2007
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