International Business Times | Dan Cancian
Ian Read said a decision on whether Pfizer should sell off its lower-margin unit of older products facing generic competition would be taken "no later than the end of 2016", adding the group needed to reduce its tax burden.
Ian Read said a decision on whether Pfizer should sell off its lower-margin unit of older products facing generic competition would be taken "no later than the end of 2016", adding the group needed to reduce its tax burden.
The US-based firm and its Irish-headquartered
counterpart were set to conclude a £113m ($160m, €140m) merger only to walk
away from the proposal after the US Treasury Department unveiled a crackdown on
so-called "tax inversion deals", which see a company relocate its
legal domicile to a lower-tax country usually while retaining its material
operations in its country of origin.