Sen. Dick Durbin, D-Ill., is urging pharmaceutical giant Hospira Inc. not to move its headquarters abroad to lower its taxes through the so-called corporate inversion process, a tactic that he and other members of Congress are trying to discourage in the U.S. business community.
Following the decision last week by Deerfield, Ill.-based Walgreen Co. to decline an inversion, Durbin wrote in a letter to Hospira CEO F. Michael Ball on Thursday that the maker of injectable drugs and infusion technologies for hospitals shouldn’t forget the benefits the U.S. has provided the company. Hospira reportedly is contemplating a $5 billion acquisition of French company Groupe Danone’s medical nutrition unit, allowing it to leave its headquarters in Lake Forest, Ill., for France.
