It is interesting to note that under the proposed “tax holiday” for multinational corporations, the pharma sector is going to have a lot of cash for buyouts:
Pfizer, for example, had $197 billion in unrepatriated income abroad last year, according to the ITEP report — that's about the same size as the company's total market cap. Merck, too, has seen substantial savings on untaxed earnings relative to its overall value. While some of that cash has likely gone into investments abroad, both companies would be able to bring billions back to the U.S. for domestic purchases.
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