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BRIEF-Pfizer says big incentive for re-approaching Astra is potential lower tax rate
April 28, 2014 / 1:37 PM / 3 years ago

BRIEF-Pfizer says big incentive for re-approaching Astra is potential lower tax rate

April 28 (Reuters) - Pfizer Inc: * Pfizer CEO says merger with Astrazeneca would particlarly

enhance pfizer’s oncology, immunology, inflammation, diabetes, cardiology

programs * Pfizer CEO says merger would boost Pfizer earnings the first full year after

deal is completed * Pfizer CEO says EPS growth would accelerate in subsequent years * Pfizer CEO says company will be “disciplined” in regard to price it would pay

for Astrazeneca * Pfizer CFO reaffirms that potential breakup of pfizer’s three main existing

businesses would not be possible until 2017 * Pfizer CFO says 70 to 90 percent of its cash is usually located outside U.S.;

some would be used to purchase Astrazeneca * Pfizer CEO says merger with astrzeneca would “exactly” fit pfizer’s recent

strategy * Pfizer CEO says favorable data in trials of its experimental drugs puts

Pfizer in “position of strength” to pursue merger * Pfizer CEO says he believes attempts to take over Astrazeneca will remain

friendly, and satisfy both Astrazeneca shareholders and astra management * Pfizer CEO says merger also makes sense now because of recent favorable

trends for astrazeneca’s cancer drugs, recent merger and acquisition trends

in industry * Pfizer CEO says astraeneca deal would be “best use of pfizer’s capital” * Pfizer CFO says lower expected Pfizer taxes would be a big benefit of

potential merger * Pfizer CEO says a big reason Pfizer is making new bid for Astrazeneca is

because it realized how uncompetitive it is to do deals with U.S. tax rates * Pfizer CEO says “too premature to speculate” who would become CEO of combined

pfizer/astrazeneca

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