Deals
Pfizer CEO Read Dashes Hopes for Big M&A in Near Future
- CEO says any deal is delayed until resolution on tax reform
- Comments sends Pfizer, Bristol-Myers shares down Tuesday
This article is for subscribers only.
The big deal that Pfizer Inc. investors have been hoping for won’t be happening any time in the near future.
On Tuesday, Chief Executive Officer Ian Read said the drugmaker needs clarity about U.S. tax reform in order to figure out which potential targets are worth buying. Until there’s a resolution in Washington, dealmaking will be “somewhat delayed,” Read said.