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Pfizer And Allergan Poised To Announce History's Biggest Healthcare Merger - Tax Benefits?

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Pharmaceutical companies Pfizer and Allergan are reportedly on the verge of announcing the largest healthcare merger in history, in defiance of the US government’s efforts to crack down on deals that it believes are thinly disguised forms of tax avoidance.

The pending merger, reported on Friday by Reuters and confirmed on Sunday by the Wall Street Journal, could be announced as early as Monday. Forming a company worth more than $150bn, the deal would allow Pfizer to re-domicile from its headquarters in New York to Ireland, where Allergan is based in Dublin. With the move, the new company would cut its corporate tax range from 15% to 39% in the US to 12.5% in Ireland.

The pending fusion of the companies would be the largest so-called “inversion” yet, whereby corporations on paper relocate their headquarters to more favorable tax environments by appearing to be bought by much smaller entities. It comes at precisely the moment the US treasury is attempting to block such deals.

I'm sure they'll invest the money they save in tax in R&D.....

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Has there anything been launched that has made up for the patent expiry of money spinning Viagra and Lipitor (a popular cholesterol lowering drug)? I don't think so? This is the only logical next step. Savings will be made through asset sales and eliminating job role duplication.

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