Pfizer still set on tax inversion

|About: Pfizer Inc. (PFE)|By:, SA News Editor

Pfizer (NYSE:PFE) is still looking to complete it highly desired tax inversion, despite AstraZeneca's rejection of its £69.4B takeover bid in May.

CEO Ian Read is lobbying in Washington for an overhaul of tax rules which he says put U.S. companies at a disadvantage, and predicts that reforms will take years to play out.

Read says Pfizer is now "aggressively" pursuing acquisition options and a tax inversion is likely to be part of a future deal.