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Correction: happy families in the pharmaceutical industry (October 7, p78)

Abstract

Although pharmaceutical companies may obtain tax advantages by creating one or more subsidiaries, we were wrong to suggest that they can obtain increased promotional allowance under the Pharmaceutical Price Regulation Scheme (PPRS). However, small subsidiaries with separate sales force and management that are survivors of a take-over may be given a separate allowance for a transitional period until they have had time to merge. We understand from people in the industry that the overriding reason for setting up subsidiaries is to increase their impact on doctors through their reps.

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