Merck Repatriates $15 Bil. In Overseas Cash, Takes $740 Mil. Related Charge
This article was originally published in The Pink Sheet Daily
Merck had previously disclosed its intention to repatriate cash, but declined to specify the amount. The related charge – offset by a $100 mil. tax benefit – lowered second quarter income by 29¢ per share. Pfizer has repatriated a total of $36.6 bil. in overseas cash over two quarters.
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