Drug manufacturer Pfizer decides not to split into two separate companies after an “extensive evaluation”. |||
New York - Pfizer decided not to split into two separate companies, opting against what could have been one of the biggest breakups in the drug industry’s history after years of what it called an “extensive evaluation”. The decision follows the collapse of Pfizer’s attempted $160 billion merger with Allergan in April, a deal that would have shifted the company’s tax address overseas and bulked up one of the units before a split.
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Pfizer said Monday that it had decided against splitting into two companies, a possibility the pharmaceutical giant had considered after the Obama administration crushed its tax inversion hopes.
(Reuters) - U.S. drugmaker Pfizer Inc said on Monday it had decided not to separate into two publicly traded companies by separating its low-growth generics from its patent-protected branded medicines.