The Tax Court Offers a Mixed Bag in the Mylan Case
By EsqSocial Corporation 11/05/21
In Mylan, Inc. & Subsidiaries v. Commissioner, 156 T.C. No. 10 (April 27, 2021), the Tax Court held that legal expenses incurred by a manufacturer of generic pharmaceutical drugs for the preparation, assembly and transmittal of notices required by the filing of an Abbreviated New Drug Application (ANDA) were required to be capitalized pursuant to section 263(a) of the Internal Revenue Code (the Code). However, the Tax Court also held that litigation expenses incurred to defend against patent...
By: Skadden, Arps, Slate, Meagher & Flom LLP