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SEC digs into Pfizer's overseas profits, tax reductions

This article was originally published in Scrip

Executive Summary

Pfizer had some "splainin' to do" when the Securities & Exchange Commission (SEC) said the pharma giant's reported domestic operations pre-tax losses of $2.2 billion in the US in 2011, with international operations producing pre-tax earnings of $15 billion, didn't quite jibe with what the firm reported for domestic and international revenues, which that year were $26.9 billion and $40.5 billion, respectively.

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