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How Amgen’s Transfer Pricing Strategy Became a $10.7B Tax Headache
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Subscribe24 JUL 2026 / ACCOUNTING & TAXES
Biotechnology giant Amgen has agreed to pay $74 million to settle a shareholder lawsuit claiming it delayed revealing a potential $10.7 billion tax exposure, which allegedly kept Amgen’s stock price artificially high. However, the company's underlying dispute with the Internal Revenue Service (IRS), involving the allocation of profits between its US operations and a subsidiary in Puerto Rico, is still unresolved and could significantly impact Amgen’s financial position and future financial statements.
Amgen may have put out one legal fire, but the biggest blaze is still burning. The biotechnology giant has agreed to pay $74 million to settle a shareholder lawsuit alleging that it waited too long to disclose a potential $10.7 billion tax exposure. The p...
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