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Pfizer Walks Away From Allergan Merger

The deal was called off after a recent change in U.S. tax law.

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Pfizer and Allergan have cancelled their $150 billion merger agreement, which would have created the largest pharma giant in the world. The agreement was terminated because of a recent change in U.S. tax rules. NPR’s Jim Zarroli explained the policy shift: “The Treasury Department on Monday introduced rules aimed at reducing the incentives for companies to carry out inversions. That’s a controversial practice in which a U.S. company merges with a firm in a foreign coun...

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