Auxilium/QLT is latest pharma tax play
This article was originally published in Scrip
Executive Summary
The announcement by Chesterbrook, Pennsylvania-based specialty pharma company Auxilium Pharmaceuticals that it is to acquire QLT, a Canadian developer of orphan ophthalmology products, is yet another example of companies in the industry exploiting the tax inversion opportunity to escape the US's 35% corporate tax rate, one of the highest in the world.