Pfizer Needs a New Rx for Growth as Allergan Deal Unravels

4628498983001_stillPfizer Inc. has been thwarted for the second time in less than two years in its pursuit of a transformative, tax-powered deal to position the biggest U.S. drugmaker for long-term growth. The Obama administration has pretty much made sure there won’t be a third try.

Pfizer and Allergan Plc officially walked away from their $160 billion merger on Tuesday, an abrupt end to what would have been the largest-ever deal in the pharmaceutical industry. It’s also a remarkable turning point in the white hot, election-cycle debate in the U.S. over corporate tax avoidance.

Pfizer’s planned mega-merger with Allergan was historic in scale and ambition. The deal would have burnished Pfizer’s drug portfolio and created a pharma giant, with a strong lineup ranging from advanced cancer treatments to generics. Yet it was also a tie-up designed to reap tax savings, a ton of them. And if the new company were to establish itself abroad with a lower tax rate, a process often called an inversion, it would have been the largest ever such move.

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About Peter Coffaro 1134 Articles

A growth-driven and strategic executive, Peter Coffaro commands more than 20 years of progressive management success within the medical device industry. As a District Sales Manager for Stryker Orthopaedics, Peter was responsible for managing and directing a regional sales force to achieve sales and profit goals within the Rocky Mountain region. Previously, he was the Director of Sales & Marketing for Amp Orthopedics. In this role, Peter was responsible for planning, developing, and leading all sales and marketing initiatives. Peter is a former orthopedic distributor in the Pacific Northwest. He has also worked with DePuy Orthopaedics as well as Zimmer, and held positions in sales, sales training, and sales management. Peter has an extensive background in organizational development, business development, sales management, negotiating and P&L management. Peter holds a B.S. degree in Biology from Northern Illinois University.

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