It is estimated that the 9 biggest pharma and biotech companies hold over $120 billion in cash overseas, with Amgen (NASDAQ:AMGN) holding $35 billion, Gilead (NASDAQ:GILD) $25 billion, and Merck (NYSE:MRK) $20 billion. Many others are equally eager to use their cash, including Johnson & Johnson (NYSE:JNJ), Sanofi (NYSE:SNY), and Allergan (NYSE:AGN), which has been active with acquisitions in 2016 as well.
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