Trump wants to cut Big Pharma’s tax bill, but what are drug makers actually paying?

Pharma has had a rocky relationship with President Trump since inauguration, but the two agree on at least one thing: Corporate taxes are too high.

And yet the nation’s biggest drug makers aren’t paying anywhere near the top corporate tax rate Trump, and congressional Republicans, hope to slash.

Over the past three years, the 10 largest U.S. drug companies paid an average tax rate of about 20 percent. That’s well below the top rate, which is 35 percent. And it falls short of the 26 percent rate paid the average American worker over the same period, according to OECD data.

STAT+ Exclusive Story

Already have an account? Log in

This article is exclusive to STAT+ subscribers

Unlock this article — plus daily coverage and analysis of the pharma industry — by subscribing to STAT+.

Already have an account? Log in

Already have an account? Log in

Individual plans

Group plans

Monthly

$39

Totals $468 per year

$39/month Get Started

Totals $468 per year

Starter

$30

for 3 months, then $39/month

$30 for 3 months Get Started

Then $39/month

Annual

$399

Save 15%

$399/year Get Started

Save 15%

11+ Users

Custom

Savings start at 25%!

Request A Quote Request A Quote

Savings start at 25%!

2-10 Users

$300

Annually per user

$300/year Get Started

$300 Annually per user

View All Plans

Get unlimited access to award-winning journalism and exclusive events.

Subscribe

Log In