Amgen Sued by Pension Fund for Failing to Timely Disclose $10 Billion Tax Bill
- IRS claims Amgen owes $8.7 billion in taxes for 2010-2015
- Drug maker is contesting assessments in US tax court
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Amgen Inc. misled investors about its financial health by failing to reveal that it may be on the hook for more than $10 billion in back taxes and penalties, a pension fund claimed in a lawsuit.
The Internal Revenue Service notified the pharmaceutical giant in 2017 that it owed $3.6 billion in back taxes for the years 2010 to 2012 and demanded $5.1 billion more for the years 2013 to 2015 in 2020, according to the proposed class-action lawsuit filed Monday in Manhattan federal court.