Pharmaceutical companies are in the business of finding cures for things that ail us. Last week, Pfizer and Allergan found a surprisingly effective cure for paying taxes. Pfizer merged with fellow pharma giant Allergan to become the largest pharmaceutical company in the world, headquartered for tax reasons in Dublin, but operationally based in the US, where much of the merged company’s activity takes place.
The deal is worth around €150 billion. To give...
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