Four pharmaceutical companies in settlement talks with states to resolve claims related to their involvement in the national opioid crisis stand to reap about $1 billion each in tax breaks if a combined payout of more than $26 billion is finalized, according to company filings.
The drug distributors McKesson Corp. , AmerisourceBergen Corp. and Cardinal Health Inc., along with Johnson & Johnson , plan to deduct the payouts from their taxes, filings show.
Cardinal, which expects to pay $6.6 billion as part of the settlement, said in a regulatory filing earlier this month that it anticipates receiving a $943 million tax benefit as a result of losses it incurred because of the payout charge. The company said it has filed for an income tax refund it expects to receive in the next 12 months.
Cardinal, based in Dublin, Ohio, said $420 million of the benefit would come from offsetting profits from prior tax years when there was a higher corporate income-tax rate, taking advantage of a provision created by Congress as part of its Covid-19 economic-relief package last March
Source: Wall Street Journal
Association between COVID-19 outcomes and mask mandates, adherence, and attitudes
Using an event study design, authors estimate the treatment effect of the introduction of mask mandates (shown on the vertical red line) on Z-scored population-normalized COVID-19 daily new confirmed cases, daily new hospitalization admissions proportion, and deaths across all 50 states and D.C. over the time period between February 1 and September 27, 2020.
Source: Dhaval Adjodah, Karthik Dinakar, Matteo Chinazzi, Samuel P. Fraiberger, Alex Pentland, Samantha Bates, Kyle Staller, Alex Vespignani, Deepak L. Bhatt. Association between COVID-19 Outcomes and Mask Mandates, Adherence, and Attitudes.