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.

http://www.bbc.com/news/business-34900344

 

About tzanger

Check Also

Amazon’s New COVID Friendly Payment Method

From “Amazon’s New Payment System Lets You Pay With Your Palms” How Does ‘Amazon One’ ...