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Two giants of the health care industry, Pfizer and Allergan, announced Monday that they will merge to create the world's largest drug maker in terms of sales. Pfizer will buy Allergan, the maker of products like Botox, for $160 billion.
The deal could allow New York-based Pfizer to move its headquarters to Dublin, where Allergan is based, and avoid high U.S. corporate tax rates. As noted in the companies' shared release, the "combined company is expected to maintain Allergan's Irish legal domicile."
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