New York, United States. 23rd Aug, 2016. Pfizer New York Headquarters - Pfizer announced a $14 billion deal for Medivation, a biotech company that makes an important cancer drug. Pfizer had planned to use the merger to move its corporate headquarters to Ireland, and possibly reduce its tax bill, a move known as an inversion. The new rules issued by the Treasury changed how the ownership percentage of the foreign company is calculated and crack down on a tax strategy called "earnings stripping." © Erik McGregor/Pacific Press/Alamy Live News

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Keywords: big, biotech, medivation, merger, nyc, pfizer, pharma, pharmaceuticals, york