Pfizer to buy biotech company Vicuron

Many biotechnology companies are trading near annual lows, making them ripe for a takeover. Most large drug companies are each still awash in billions of dollars in cash, some of it repatriated from overseas operations because of recent changes in the U.S. tax code. Pfizer expects a $28 billion windfall in such overseas profits. And big Pharma's cash positions could herald a new wave of similar acquisitions, analysts said. Pfizer itself is sitting on $24 billion in cash and investments and has an annual cash flow of $16 billion. The Vicuron acquisition, which Pfizer hopes to close by the third quarter, will be the third such purchase this year for the company

Pfizer to buy biotech company: "

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