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Tax Deduction for Prescription-Drug Advertising?

October 22, 2009
Posted by Susan Weissman

It’s controversial to say the least.  This legislation has been introduced in the Senate to eliminate the federal tax deductions for all advertising and marketing expenses for prescription drugs.  The American Advertising Federation estimates that disallowing the advertising tax deduction will increase the cost of advertising and marketing for affected companies by up to 35%.  If you’re in the pharma business, you might find the comments after the article the most interesting of all.  For:  helps pay for health care reform, gives more authority to the physicians who should be driving the use of prescription drugs based on what ails you.  Against:  inhibits consumer information, hurts marketing/advertising industry, reduces pharma profit.

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