Reuters: Market News: Takeda says likely to get 57 bln yen tax refund after appeal

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Takeda says likely to get 57 bln yen tax refund after appeal Apr 6th 2012, 09:45 TOKYO, April 6 | Fri Apr 6, 2012 5:45am EDT TOKYO, April 6 (Reuters) - Takeda Pharmaceutical Co said on Friday that it was likely to receive a refund of 57.1 billion yen ($693 million) after appealing against taxes on transfer pricing. The Japanese firm said it had submitted an appeal to the Japanese authorities against taxation related to transfer pricing on profits gained from sales of its ulcer treatment drug Prevacid, sold in the United States by its subsidiary TAP Pharmaceutical. Takeda formed TAP Pharmaceutical as a 50/50 venture company with Abbott Laboratories.

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