US attempts to stop tax inversion deals 'short-sighted,' says Allergan CEO
Now that US drugmakers Allergan (NYSE: AGN) and Pfizer (NYSE: PFE) have confirmed they are in acquisition talks (The Pharma Letter October 29), the focus turns to US politics and tax inversion-designed transactions, as analysts and investors express growing fears that the US government will try to block the deal.
In an interview with the Financial Times published this morning, Ireland-headquartered Allergan’s chief executive, Brent Saunders, warned against political interface designed to frustrate deals aimed at reducing corporation tax.
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