AstraZeneca (AZN) to Pay $1.1B in Transfer Pricing Resolution
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AstraZeneca (NYSE: AZN) shares are trading slightly lower Monday afternoon, following reports that the pharma giant will pay $1.1 billion "to resolve all US transfer pricing and related valuation matters for all periods from 2000 to the end of 2010."
On the company website, AstraZeneca said "the UK and US governments’ tax authorities have agreed to the terms of an Advance Pricing Agreement regarding transfer pricing arrangements for AstraZeneca’s US business for the 13-year period from 2002 to the end of 2014."
Payments are expected to be made throughout CY11.
AstraZeneca stock is trading near session lows into the close, down about 0.6 percent.
On the company website, AstraZeneca said "the UK and US governments’ tax authorities have agreed to the terms of an Advance Pricing Agreement regarding transfer pricing arrangements for AstraZeneca’s US business for the 13-year period from 2002 to the end of 2014."
Payments are expected to be made throughout CY11.
AstraZeneca stock is trading near session lows into the close, down about 0.6 percent.
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