{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-c03aa079.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-517835be.css\" media=\"all\" /\u003e\n\u003cdiv data-title='Allergan, Pfizer Call Off Proposed $160B Merger' data-url='/boclips/videos/5c54caddd8eafeecae19f7b2' data-video-url='/boclips/videos/5c54caddd8eafeecae19f7b2' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nAllergan, Pfizer Call Off Proposed $160B Merger\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eFOR CLEAN VERSION SEE STORY NUMBER: apus052600The biggest U.S.-based drugmaker, Pfizer Inc., will stay put thanks to aggressive new Treasury Department rules that succeeded in blocking Pfizer from acquiring rival Allergan and moving to...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eFOR CLEAN VERSION SEE STORY NUMBER: apus052600The biggest U.S.-based drugmaker, Pfizer Inc., will stay put thanks to aggressive new Treasury Department rules that succeeded in blocking Pfizer from acquiring rival Allergan and moving to Ireland, on paper, to reduce its tax bill.As analysts and investors had expected, the two companies called off the record $160 billion merger early Wednesday \"by mutual agreement.\" Pfizer cited Treasury's new regulations, issued late Monday, to make such \"tax inversions\" less lucrative.The merger would have moved Pfizer's address, but not its operations or headquarters, to Ireland, where it would pay far less in corporate taxes. Pfizer, based in New York, has agreed to pay Dublin-based Allergan PLC $150 million for reimbursement of expenses. Now the two drugmakers will focus on other strategies to boost profits and sales quickly, with Pfizer saying it will decide by year's end whether to separate its global established products business, which sells older, mostly off-patent drugs. Pfizer has endured years of relentless pressure from analysts and others to break up the company so growth and profits could accelerate. That's easier said than done, given Pfizer's huge scale, increasing pressure from insurers for bigger discounts and a revenue base that's been declining over the last several years as multiple blockbusters such as cholesterol drug Lipitor have lost billions in annual sales to much-cheaper generic copycats.FOR CLEAN VERSION SEE STORY NUMBER: apus052600The biggest U.S.-based drugmaker, Pfizer Inc., will stay put thanks to aggressive new Treasury Department rules that succeeded in blocking Pfizer from acquiring rival Allergan and moving to Ireland, on paper, to reduce its tax bill.As analysts and investors had expected, the two companies called off the record $160 billion merger early Wednesday \"by mutual agreement.\" Pfizer cited Treasury's new regulations, issued late Monday, to make such \"tax inversions\" less lucrative.The merger would have moved Pfizer's address, but not its operations or headquarters, to Ireland, where it would pay far less in corporate taxes. Pfizer, based in New York, has agreed to pay Dublin-based Allergan PLC $150 million for reimbursement of expenses. Now the two drugmakers will focus on other strategies to boost profits and sales quickly, with Pfizer saying it will decide by year's end whether to separate its global established products business, which sells older, mostly off-patent drugs. Pfizer has endured years of relentless pressure from analysts and others to break up the company so growth and profits could accelerate. That's easier said than done, given Pfizer's huge scale, increasing pressure from insurers for bigger discounts and a revenue base that's been declining over the last several years as multiple blockbusters such as cholesterol drug Lipitor have lost billions in annual sales to much-cheaper generic copycats.AP TELEVISION  New York - November 23, 20151. Pfizer's New York headquartersAP TELEVISION  New York - April 6, 2016++ SOUNDBITES PARTIALLY COVERED BY B-ROLL OF PFIZER. SEPARATED BY WHITE FLASH ++2. SOUNDBITE (English) Philip Segal, Attorney, Charles Griffin Intelligence:\"A lot of people think that the US government did these rules with this particular merger in mind because two previous rounds of rule changes didn't really seem to stall or slow down the pace of the inversions but this round really did it. This was a radical change. I guess the thing now is if someone believes that the inversions were a good thing, then they change the tax law, but really what people are talking about more is that tax rates need to be in line with foreign corporate tax rates. That's the thing that would really stop the inversions.\"Pool  Philadelphia - April 6, 20163. SOUNDBITE (English) Hillary Clinton (D) Presidential Candidate:\"I'm really proud that the Treasury secretary and the president yesterday announced tough new rules on this gimmick that companies are using. They call it and inversion, I call it a perversion. It's wrong. It's got to stop. What President Obama announced is a good start and I'm glad that Pfizer has decided to give up on its own inversion scheme.\"\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more description' class='rp-full-description' type='button'\u003e\n\u003ci class='fai fa-solid fa-align-left'\u003e\u003c/i\u003e\n\u003cspan id='read_more'\u003eRead More\u003c/span\u003e\n\u003c/button\u003e\n\u003cdiv class='rp-report'\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='resource-details-heading' class='rp-info-section'\u003e\n\u003ch2 class='title' id='resource-details-heading'\u003eResource Details\u003c/h2\u003e\n\u003cdiv class='rp-resource-details clearfix'\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eCurator Rating\u003c/dt\u003e\n\u003cdd\u003e\u003cspan class=\"star-rating\" aria-label=\"3.5 out of 5 stars\" role=\"img\"\u003e\u003ci 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