PHARMA: GSK says to contest $5.2 billion U.S. tax claim

PHARMA: GSK says to contest $5.2 billion U.S. tax claim

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Just in case you thought you had tax troubles, the IRS thinks that GlaxoSmithKline owes it $5.2 billion. GSK has about $2bn in reserves to pay this, but obviously will be in tax court for a few years whittling this number down.  Given the way the stock market works the relative certainty of this upper limit may end up being a positive thing for GSK, and I doubt that rest of us will be passing the collection hat for them any time soon!

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