Will Big Pharma tax breaks drive a wave of M&A?
Of all the US companies hoarding cash overseas, Apple's cash pile, at $252 billion is by far the largest. What it will decide to do with this money now that tax reform has been signed into law remains to be seen, although many Wall Street analysts believe that it will be spent on buybacks and other shareholder distributions.
The pharmaceutical sector's overseas cash pile meanwhile amounts to around $200 billion, and according to a recent report from Moody's, unlikely Apple, it's more than likely that Big Pharma will splash its cash on acquisitions not...
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