Could a Trump-mandated cash repatriation spur pharma M&A, or just share buybacks?

Fierce Pharma ------- With the failed attempt to repeal and replace Obamacare in the rearview mirror, President Donald Trump and members of Congress are moving on to other issues, including tax reform. Just exactly what changes to the tax code might look like has yet to become clear, but one thing can be said for certain: Trump wants to lower the tax burden for companies bringing cash back to the U.S. from overseas accounts.This so-called tax holiday on cash repatriation would be a net positive for biopharma companies, to be sure. Trump has proposed a one-time mandatory repatriation of cash held overseas at a 10% tax rate, as opposed to the 35% rate companies currently pay in the U.S. For the top 10 biotechs and the top six pharma companies, that could result in $146 billion in cash coming back to the U.S., according to an analysis by SunTrust Robinson Humphrey. To learn more click on the picture below to read the article.