Medtronic Set To Pay Part Of $500 Mil. Tyco Tax Settlement
This article was originally published in The Gray Sheet
The settlement would put to rest a dispute between former Covidien parent company Tyco and the IRS over taxes on intercompany debt. If the settlement is finalized, Medtronic’s share would be about $210 million.
You may also be interested in...
Covidien is now a $9.9 billion, pure-play medical device and supplies company. Separately, the firm could be liable for more than $1 billion in back taxes due to an IRS audit of its former parent, Tyco, though the case is expected to take years to play out in court.
Bluebird bio’s Tom Klima told Scrip launch preparations are well under way, including negotiations with payers on outcomes-based reimbursement agreements.
AbbVie is to terminate the clinical development of lemzoparlimab for myelodysplastic syndrome and acute myeloid leukemia and will also reduce the size of its 2020 deal with originator I-Mab by $445m, in the latest blow to the Chinese firm.