Tax Avoidance by Pharmaceutical Companies in the U.S.

Many large pharmaceutical companies in the U.S. pay very low taxes, with effective tax rates far below the 21% corporate tax rate. Pfizer, for example, reported a negative effective tax rate despite booking $59 billion in revenue.

Challenges with COVID-19 Antibody Treatments for Omicron Variant

Doctors are warning of a challenge as the two standard drugs used to treat early COVID-19 infections are unlikely to work against the new omicron variant. The antibody drugs from Regeneron and Eli Lilly are less potent against omicron, but a drug from GlaxoSmithKline appears to be effective. The U.S. is rationing scarce drug supplies and focusing on high-risk patients. Antiviral pills from Pfizer and Merck may soon be authorized as treatments.