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November 24, 2015

$160B Pfizer-Allergan deal raises outcry

  • In what would be the biggest ‘inversion' ever, Pfizer could save hundreds of millions in U.S. taxes annually by moving its tax headquarters to Ireland, where Allergan is based.
    • By LINDA A. JOHNSON and TOM MURPHY
    AP Business Writers

    A $160 billion deal announced Monday to merge Pfizer and Allergan, and create the world's biggest drug company renewed the outcry in Washington over “inversions,” in which U.S. corporations combine with companies overseas to lower their tax bill.

    The combination — the second-largest merger in history — could have ramifications around the globe, pushing up drug prices and spurring more such deals in the fast-consolidating health care sector and other fields.


     
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