Deals Of The Week Keeps Tabs As Tax Trimming Fuels Deal-Making
As more biopharmaceutical companies become profitable and global, tax strategy becomes an increasingly important aspect of deal-making and intellectual property management. Deals of the Week looks at recent tax winners, new tax tactics and potential deal targets that are attractive in part because of their high – or low – tax rates.
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Actavis’ purchase of Warner Chilcott will lower the former’s overall tax rate significantly, expand its specialty pharma business to 25% of total revenues, and provide global critical mass – all necessary responses to a future that includes fewer opportunities for small molecule generics and greater pricing pressures.
In a “complete response” letter, the agency said it wanted more clinical data on use of the mTOR inhibitor as a maintenance therapy in metastatic soft tissue or bone sarcoma. Merck says it is confident in ridaforolimus’ potential and points to an active development program in various solid tissue cancers.
Priya Singhal took over as Biogen's top R&D leader on an interim basis after Al Sandrock’s unexpected retirement. "I understand that this is a challenging time," she told Scrip.