Rumors about a massive healthcare deal were circulating in industry circles, months before Pfizer Inc disclosed its $100 billion pursuit of Britain's AstraZeneca Plc , according to several industry bankers and lawyers.As rivals and bankers assessed what it could mean for different companies in the industry, one aspect touched nearly everyone: what it could mean for an increasingly popular U.S. tax loophole.U.S. healthcare companies worried that if a household name like Pfizer changed its domicile to Britain to lower its tax rate as a result of a deal with AstraZeneca, it would spur Congress into action and close the tax arbitrage opportunity, called tax inversion, for everyone else, these people said.The fear of such an outcome - even though it is likely many months, if not years, away - added new urgency to companies such as Botox-maker Allergan Inc and generic drugmaker Mylan Inc that were already looking at European targets, people familiar with these situations said.
Allergan, Inc. is a multi-specialty health care Company focused on developing and commercializing pharmaceuticals, biologics, medical devices and over-the-counter products. Shares of AGN traded higher by 0.13% or $0.21/share to $165.84. In the past year, the shares have traded as low as $81.33 and as high as $169.29. On average, 3934080 shares of AGN exchange hands on a given day and today's volume is recorded at 3468351.
AstraZeneca PLC (AstraZeneca) is a global biopharmaceutical company. Shares of AZN traded higher by 2.52% or $1.94/share to $79.05. In the past year, the shares have traded as low as $46.87 and as high as $79.90. On average, 3161930 shares of AZN exchange hands on a given day and today's volume is recorded at 9776085.
Mylan Inc. (Mylan) is a fully integrated global pharmaceutical company that develops, licenses, manufactures, markets and distributes generic, branded generic and specialty pharmaceuticals. Shares of MYL fell by 0.2% or $-0.1/share to $50.78. In the past year, the shares have traded as low as $27.77 and as high as $57.52. On average, 6227070 shares of MYL exchange hands on a given day and today's volume is recorded at 6871628.
Pfizer Inc. (Pfizer) is a research-based, global biopharmaceutical company. Shares of PFE fell by 1.51% or $-0.48/share to $31.28. In the past year, the shares have traded as low as $27.12 and as high as $32.96. On average, 29118400 shares of PFE exchange hands on a given day and today's volume is recorded at 36534512.
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