06 March 2019 – Guardian
A drug company currently in dispute with the NHS for two years over the high price it wants for a cystic fibrosis medicine has paid almost no UK corporation tax.
Vertex Pharmaceuticals (Europe), based in London and Oxford, had a turnover of £5.3bn in the five years to the end of 2017, largely from sales of its cystic fibrosis drugs Orkambi and Kalydeco.
The company declared an operating loss in 2017 after paying its profitable US parent company to manufacture the drugs. It received £7m in tax credits from the UK government for investing in research and development.
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