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Pfizer, Poised For A Tax Reform Windfall, Talks About Ways To Reinvest

Executive Summary

Pfizer expects its 2018 tax rate will fall to 17% from 23% in 2017 and the firm could repatriate up to $24bn in cash. The big pharma talked about reinvesting in US manufacturing, employee compensation and returns for shareholders, but investors also want to know how it might impact M&A.

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