Oxfam’s new report scours the balance sheets of Johnson & Johnson, Pfizer, Merck, and Abbott in 19 countries. The US government alone could be losing billions, and poorer countries are likely losing out on millions of dollars in taxes from these companies that could be used to pay for clinics and schools, nurses and vaccines.
Instead of paying what they really owe, it appears drug companies are stashing billions of dollars in profits offshore, and charging sky-high prices that many can barely afford, and depleting the funds of state medical services like the NHS.
In many countries, thousands of women continue to die every year as a result of inadequate maternal health care. Women also shoulder the burden of care for loved ones when the health system fails.
Meanwhile, the CEO’s of Johnson & Johnson, Pfizer, Merck & Co, and Abbott took home more than $80 million dollars in 2017 alone.
- Pay their fair share of taxes
- Stop working to rig government rules in ways that undermine the fight against poverty
- Make their medicines affordable to the people who need them
More information
Oxfam International. 9 April 2019.
The National. 2 October 2018.
Nasdaq. 18 September 2018.
Oxfam. 18 September 2018.
The Irish Times. 18 September 2018.
The Guardian. 18 September 2018.
The Times (paywall). 18 September 2018.
