Senator questions pharmas on use of tax savings

Sen. Tina Smith (D-Minn.) sent letters to the CEOs of five large U.S. pharmas on Thursday questioning how they have been using their corporate tax savings since the passage of the Tax Cuts and Jobs Act in December.

In a statement, Smith said recent reports alleged that several top pharmas used "a sizable portion of their tax cut to drive up stock value and make investors wealthier."...