Bristol Myers Squibb (BMY)

[Johnny_C]

Good call, that is exactly what was stated today by PFE. While I agree with that, especially because most of the PFE cash is not in US, here is a contrary view. GILD did not make a move either.

Whether it is PFE, GILD or Roche, and lets say BMY is the target-

these companies know what the tax rates are today and it is doubtful the corporate tax rate will get worse but only better.

So lets say these potential buyers are prudent and wait and there is positive corporate tax reform, it will make any deal much much more expensive because the target will reap those same tax benefits.

If a deal is done now and then there is positive tax rates moving forward the purchase will look like a bargain.

But, there are virtually no deals being consummated right now in Pharmaland.