Home / Business / Pfizer seals $160bn Allergan deal to create drugs giant
A sign is seen at the Pfizer manufacturing plant in Newbridge, County Kildare, Ireland, November 12, 2015. REUTERS/Tom Bergin

Pfizer seals $160bn Allergan deal to create drugs giant

Pfizer and Allergen PLC have agreed to a $160 billion inversion deal, which allows the newly created company, Pfizer PLC, to take advantage of a lower corporate tax rate.

Pfizer PLC will become the largest pharmaceutical in the world in terms of sales, which would be a combined $60 billion per year.

The deal is projected to be completed in the second half of 2016, subject to regulatory approval, and Pfizer expects the deal to save them $2 billion in the first 3 years of combined operation.

Although the deal is structured so that it is legal, it raises the question of whether or not the move is responsible.



About tzanger

Check Also

Drug companies seek billion-dollar tax deductions from opioid settlement

Claire Pascocello Feb 12, 2021 The opioid epidemic kills tens of thousands of Americans each ...