Pfizer Inversion Infuriates Politicians; Trigger Tax Fix Needs?

Pfizer Inc. CEO Ian Read on Nov. 23 insisted his company's decision to merge with Ireland-based Allergan PLC under a $160bn deal – the largest ever among biopharmaceutical firms – was not being done "simply as a tax transaction," even though the New York big pharma would be cutting its tax rate significantly, from about 25% to 17% to 18%.