Pfizer-Allergan deal elicits market speculation—and some humor
The proposed $160 billion partnership ignites prognostications about the branding of new—and older—drugs. There’s also talk about patents, pricing and tax dodging.
Botox meets Viagra, and depending on whom you ask, it’s not a pretty deal. It has, though, brought some excitement.
Pfizer’s acquisition of Allergan has made for a stirring news day on Monday.
When executives shared details, many financial journalists focused on the “tax inversion” strategy that Pfizer has taken. The drug manufacturer, whose products include Viagra and Lipitor, has long complained of its hefty corporate tax bill in the U.S.
“The acquisition, which would shift Pfizer’s headquarters to Ireland, would be the biggest-ever tax inversion,” said Reuters.
President Barack Obama has called the practice “unpatriotic” while the two leading Democratic presidential candidates immediately jumped into the fray urging Obama to stop the deal.
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