Pfizer expects its 2018 tax rate will fall to 17% from 23% in 2017 and the firm could repatriate up to $24bn in cash. The big pharma talked about reinvesting in US manufacturing, employee compensation and returns for shareholders, but investors also want to know how it might impact M&A.
Pfizer Inc. is about to get what CEO Ian Read has long advocated for – a windfall from US corporate tax reform that he said will even the playing field for US-based multinational companies.
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The big pharma forecast a $400m expense this year related to tariffs, but those estimates only reflect medtech tariffs already announced, not potential pharma tariffs.
Adstiladrin sales hit €70m in first full year on the market
As drugmakers update investors on first quarter financial performance, uncertainty around global trade and US regulatory oversight is likely to dominate discussions.
Sector-specific tariffs, including on pharmaceuticals, could be announced as early as this week.
GNT Pharma prepares for the first listing of a Korean biotech on Nasdaq, while others sign major global out-licensing deals with large multinational partners.
With the FDA asking for another Phase III trial, the short bowel syndrome drug apraglutide could be years away from market, while the Linzess patent expiry and near-term debt loom.
The company discontinued development of its oral GLP-1 receptor agonist for weight management due to a safety signal.
