Pfizer and Allergan will have to scrap the merger deal following the new regulation from Treasury Department to stop the U.S. company moving overseas.
Tags: Pfizer
Pfizer Shifts Its Focus to Cancer Drugs After Decline in COVID Business
Pfizer is shifting its focus from COVID-related products to cancer drugs. Pfizer is shifting its focus on cancer drugs as the pharmaceutical giant tries to recover from a challenging period due to the decline of its COVID-19 business.
Pfizer's Latest Cancer Therapy Announcement Sparks Investor Attention
The cancer therapy was revealed during the Innovation Day event to engage investors and strengthen its position in cancer research and treatment.
Pfizer Agrees to Pay $93 Million to Settle Lipitor Cholesterol Drug Antitrust Lawsuit
Pfizer has agreed to pay $93 million to resolve antitrust claims by wholesale drug distributors accusing the pharmaceutical giant of conspiring with India's Ranbaxy Laboratories to delay the sales of cheaper versions of the cholesterol drug Lipitor.
Drugmakers, Including Pfizer and Sanofi, Set to Raise US Prices on at Least 500 Drugs in January
Several major drug companies, including Pfizer, Sanofi, and Takeda Pharmaceutical, are gearing up to implement price hikes on over 500 drugs in the United States in early January.
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Pfizer, a US-based drug company, is said to dismiss its merger deal with Allergan. The US drugmaker wants to quit from the $160 billion merger deal since Washington authorities set new rules, making corporate inversions harder.
Pfizer said that net compensation of chief executive officer Ian Read declined 23% in 2015 driven by a drop in stock awards. The chief's net compensation amounted to $18 million in 2015.
Pfizer and other pharmaceutical companies still increase its drugs price in U.S. despite criticism. Mounting objection from politicans and lawmakers is unable to stop market power of companies in the multi-billion dollar phamaceutical industry.
Pfizer today confirmed that the company has increased the price of some of its drugs although it was not revealed how many drugs are involved with the price hike. According to a data by Wolters Kluwer which revealed that more than 100 types of drugs has been increased in its price starting on January 1st.
US Stocks went up across sectors Monday largely due to the increases in the energy sector and the growing acquisition activities in healthcare. Reuters reported that the increases on the first trading day of November happened right after the impressive October figure, which is the best monthly performance of the major indexes in the last four years.
The US companies are keeping their profits made overseas out of the homeland in order to avoid taxes. It's estimated that 500 large US companies are holding over $2.1 trillion accumulated profits overseas to avoid taxes. These companies have to shell out $620billion by paying US taxes to repatriate the funds.
A Phase III trial of Pfizer Inc's Ibrance showed that, in combination with hormone therapy, the drug more than doubled the duration of disease control for women with the most common type of breast cancer.
Pfizer Inc (PFE.N) is the mystery bidder for Swedish Orphan Biovitrum AB (SOBIV.ST), the rare disease specialist which disclosed this week that a potential buyer had made a preliminary offer, people with knowledge of the situation said.
Foreign exchange swings cost North American corporates $18.66 billion in revenue in the fourth quarter, according to a report by currency risk management consulting firm FiREapps.
