No $473M Tax Refund For Schering-Plough: Judge

Law360, New York (September 1, 2009, 1:11 PM EDT) -- Pharmaceutical giant Schering-Plough Corp. has lost its bid to get a $473 million tax refund it said the Internal Revenue Service owed it for two transactions that occurred more than 15 years ago.

Judge Katherine S. Hayden closed the case Aug. 28 after a bench trial in the U.S. District Court for the District of New Jersey, finding that the company was not, as it had argued, entitled to recoup taxes it paid on $690 million in profits it repatriated from offshore subsidiaries.

The company said...
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