2017 results show Pfizer wins big in US tax shakeup

30 January 2018

While some including Johnson & Johnson (NYSE: JNJ) and Biogen (Nasdaq: BIIB) took hefty tax charges in the final part of 2017, New York, USA-based Pfizer (NYSE: PFE) was one of those to benefit from US tax reforms, the firm’s annual results statement shows.

Pfizer recorded an $11 billion gain from the overhaul, and says it expects to benefit from a reduction in its tax rate from 23% to 17%, on an ongoing basis.

Some of the tax savings will be used to make $5 billion in US capital investments, add half a billion dollars to its pension scheme, and reward non-executive staff with a bonus.

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