The new Tax Laws passed this morning in both houses in the US.
Looks like the big US companies are going to be significantly cashed up in 2018, this can't hurt VLA's prospects.
"The prospect of tax reform has had drugmakers and Wall Street salivating for months.
Repatriation of cash held outside the U.S. could be the most important part of the Republican tax bill for the sector, according to a recent Credit Suisse report, which found that American biopharma companies make up one-third of the top 30 U.S. companies with the most offshore cash.
The final version of the tax bill, which could be passed by the end of the year, is expected to reduce the tax rate for repatriated offshore cash from 35% to between 8% and 15.5% — a major tax break that could make a slew of dealmaking and share buybacks possible.
The biggest potential winners are drugmakers Amgen Inc.
AMGN, +0.31% ($39 billion offshore), Gilead Sciences Inc.
GILD, -0.87% ($32 billion), Pfizer Inc.
PFE, -1.20% (about $22 billion) and
Merck & Co. Inc. MRK, -0.27% (about $20 billion), according to the report, which used offshore cash counts as of the third quarter."
Full article here
https://www.marketwatch.com/story/r...-amgen-gilead-and-other-drugmakers-2017-12-05
