Biden Infrastructure Plan Offers Biopharma R&D Carrot, Tax Stick
Inversions Have Come Under Attack In Recent Years
Tens of billions would go to fund R&D, including Phase I and Phase II development of vaccines. But the plan would also crack down on inversions and offshoring.
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Tax hike would fund $30bn for pandemic preparations and billions more for biotech R&D and rural manufacturing jobs that are part of comprehensive infrastructure renewal proposal.
Allergan was expected to announce soon that it would follow its shareholders' advice and split the company in two, but it's being acquired by AbbVie for $63bn instead, finally giving investors a big boost in their Allergan holdings after years of decline.
Following tax reform, analysts expect imminent biopharma mega-mergers, with Pfizer, Merck and Roche looking to buy, AstraZeneca, Bristol and Vertex looming as take-out candidates, and Amgen as either a buyer or a target.