Deals
Pfizer CEO Read Is Open to Mega-Merger; Inversion? Not So Much
- Government opposition makes tax move near impossible, CEO says
- Big pharmaceutical companies could start snapping up biotech
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Pfizer Inc. Chief Executive Officer Ian Read says his failed attempts to buy major pharmaceutical companies Allergan Plc and AstraZeneca Plc haven’t soured him on mega-mergers, though he’s throwing in the towel when it comes to tax-cutting acquisitions.
Pfizer’s management is open to any deals that will create value for shareholders, regardless of size, Read said at the Sanford Bernstein Annual Strategic Decisions Conference. The drugmaker continues to look for opportunities, he said.