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.
Interview: CEO Jean-Paul Kress talked to Scrip about the US launch of Monjuvi, commercial expansion and the aspiration to build a European biotech that can compete in the big leagues.