Posted by Michael Wonder on 28 Jul 2025
Drug giants targeting Australia’s PBS are paying tiny amounts of tax
28 July 2025 - Global pharmaceutical giants, including Pfizer and Johnson & Johnson, are paying a tiny fraction of the billions of dollars they earn from drug sales in local taxes, at a time when they’re lobbying US President Donald Trump to force an overhaul of Australia’s PBS.
An analysis of earnings statements filed with the corporate regulator by five of the biggest US and European drugmakers shows the companies on average pay between 2% and 4% of their Australian sales in income tax.
