Pharmaceutical giants Pfizer and Allergan confirmed Monday they will merge to form the world's biggest drug company by sales, in a deal that mostly, if not exclusively, about tax. The deal values the combined company at $160 billion (including debt
The blockbuster merger of the drug giants Pfizer and Allergan is putting new pressure on Congress and the White House to overhaul the corporate tax code. Pfizer's $160 billion takeover of Ireland-based Allergan is the largest deal to date to avoid
Drug giants Pfizer and Allergan just agreed to merge. Allergan has its tax domicile in Ireland, offering Pfizer a way to cut its tax bill.
Move would allow Pfizer to transfer headquarters from US to Ireland, cutting corporate tax range despite US Treasury effort to block such deals.
'The fact that Pfizer is leaving our country with a tremendous loss of jobs is disgusting,' he said in a statement to Business Insider.