It's The End Of Pfizergan, So Pfizer Will Have To Grow It Alone

Pfizer Inc. was set to reclaim the title of world's top drug maker, dramatically lower its tax rate and access billions in cash held offshore. Only now it's not doing any of that, because the US government got in the way of its plans to merge with Allergan PLC. Instead, investors are wondering what the change in plans mean for Pfizer's future as it moves forward independently.

Pfizer and Allergan ended their $160bn planned merger on April 6 after the US Treasury unveiled new rules on April...