The global financial crisis and healthcare reform efforts around the world will likely drive up the effective tax rate for the pharmaceutical and life sciences companies, according to a new report from PricewaterhouseCoopers. At the same time countries looking to attract research and development and manufacturing to bolster their economies are offering tax incentives to lure pharmaceutical companies. We spoke to Michael Swanick, partner and global pharmaceutical and life sciences tax leader for PricewaterhouseCoopers about the changing tax environment for pharmaceutical companies, potential areas of new tax obligations, and the growing complexity of managing these issues.