Here's Why Pfizer And Allergan Just Killed Their Record Merger
Under new tax rules, pharmaceutical companies Pfizer and Allergan wouldn't get as big of an incentive if they merged.By Melissa Prax | April 6, 2016
Pfizer and Allergan are ending their planned merger because under new tax rules, they wouldn't get as big of an incentive if they combined.
The U.S.- and Ireland-based companies together were predicted to save up to $35 billion in taxes, or about 29 percent less than what Pfizer pays every year.
Pfizer said it will pay Botox-producer Allergan $150 million back to cover the costs of the merger.