Domestic drug development could be a major beneficiary if Congress enacts legislation that calls for a tax holiday on overseas earnings brought back to the U.S. for job creation.

Domestic drug development could be a major beneficiary if Congress enacts legislation that calls for a tax holiday on overseas earnings brought back to the U.S. for job creation.

Pfizer Inc.'s announcement on Feb. 1 that it plans an enormous, near-term share repurchasing program caught investors' attention and highlighted a persistent, if sometimes muted, ongoing debate in the industry about the best use of its cash.