Mylan CEO: Tax code handicaps and penalizes U.S. companies

Fortune

When Heather Bresch joined pharmaceutical firm Mylan 22 years ago as a secretary in the quality assurance department, the company had roughly $100 million in revenues. Now Mylan’s CEO, Bresch is running a business that had $7 billion in sales last year. During her long tenure, the company has transformed into a global business. But she says America’s corporate tax system has remained stagnant, hurting its business competitiveness in the process.

In a move that Bresch says was critical to ensuring the future success of her company, Mylan announced in July that it would acquire Abbott Laboratories generic drug business. The $5.3 billion deal will allow Mylan to relocate its company headquarters from the U.S. to the Netherlands, skirting higher U.S. corporate taxes in the process. In an exclusive interview with Fortune, Bresch talks about the controversial deal – President Barack Obama has called deals like Mylan’s “unpatriotic” –…

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