New US inversion rules threaten Pfizer-Allergan merge deal
The deal between Pfizer and Allergan, two of the prominent drugmakers, is threatened by the new US inversion rules done by the US Treasury Department.
Tags: Pfizer
A new set of rules will be imposed by the U.S Treasury Department to prevent U.S companies from practicing earning stripping. U.S companies often engage on these practices to prevent the high taxation rate of the United States.
Pfizer's Wyeth unit has already agreed to pay $784.6 million. This will allegedly settle claims that the company's calculation of the Medicaid rebates for Protonix violated the Federal Civil False Claims Act and other laws.
The world's top drugmakers have improved access to medicines in developing countries, according to a report on Monday, but their good work is undermined by a sorry record of unethical behavior.
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