Top U.S. lawmaker urges Hospira not to flee tax system

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Top U.S. lawmaker urges Hospira not to flee tax system

By Kevin Drawbaugh WASHINGTON (Reuters) - A senior U.S. senator said on Thursday he has written to Hospira Inc and urged the drug and medical device maker not to move its tax domicile abroad to save on U.S. taxes. Citing recent reports that Hospira plans to buy the medical nutrition unit of France's Danone SA, Dick Durbin said in a statement he told Chief Executive Officer Michael Ball that Hospira should not "turn its back on American taxpayers and consumers by taking advantage of a tax loophole called 'inversion.'" The statement from the No. 2 Democrat in the Senate came amid growing concern in Washington with inversion transactions, which allow U.S. corporations to shift their tax home-base to a different country and cut their U.S. tax bills.

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