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Publish Date : 08-Dec-2015

The completion of a record-breaking deal between pharmaceutical firms Pfizer and Allergan has been called a "disaster" by US Democrat presidential candidates Bernie Sanders and Hillary Clinton amid concerns it could resurrect the prospect of tax inversions.

That merger is expected to save the US company millions in USA taxes.

In what was widely seen as an early attempt at making a tax inversion, last year, Pfizer made an offer of 70bn bid for AstraZeneca.

The White House refused to speak on Pfizer's acquisition, but a spokesman said Congress should take a step to prevent inversions.

The deal is expected to be closed in H2-2016 and it will create a combined entity that has an operating cash flow exceeding $25 billion by 2018.

It is still not clear how this deal will affect the agency relations of the companies.

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