Promise Of US Tax Reform Simmers, But On The Backburner
The pharmaceutical industry will have to keep waiting for US tax reform, most likely until at least the end of 2017. President Trump plans to revisit health care reform first to generate the savings needed for "phenomenal" tax reform.
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With much of its cash held ex-US, Gilead is unlikely to undertake another large acquisition soon, even if there are logical reasons to bolster its NASH pipeline or try to acquire partner Galapagos. Firm is likely to follow Kite buyout with targeted cancer deals.
Funding from the US National Institutes of Health is a vital source for biomedical research and pharmaceutical pipelines in turn – but biopharma companies have been largely silent on the matter.
CEO says the idea of forming one company around Humira and its earnings and another around the R&D pipeline holds merit but he wants to wait to see the outcome of US tax reform, which could address some of AbbVie's issues.