Stark Foreign Tax Credit Bill Would Open Fifth Front In Rx Pricing Debate
Rep. Stark (D-Calif.) will attempt to open a fifth front in the 2000 legislative debate over pharmaceutical pricing with a bill to deny foreign tax credits to companies that charge higher prices in the U.S. than in other industrialized countries.
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Rep. Stark's (D-Calif.) drug tax credit bill would deny drug manufacturers a research tax credit for drugs that are sold at a lower price in Organization for Economic Cooperation & Development countries than in the U.S. The bill would not affect foreign tax credits (1"The Pink Sheet" Jan. 3, p. 16). Stark expects to introduce the bill in February
Newly released Medicare Part D data sheds light on the sales hit that branded pharmaceutical manufacturers will face when the coverage gap discount program gets under way in 2011