NEW YORK: Pfizer Inc announced on Thursday it will buy US$11 billion (RM35.9 billion) of its shares after walking away from a deal to acquire AstraZeneca Plc earlier this year. The purchase of London-based AstraZeneca would have reduced New York-based Pfizers tax bill by moving its legal address overseas and given the drugmaker a greater roster of medicines. The US$11 billion buyback, to be utilised over an indefinite time period, is in addition to the US$1.3 billion remaining under the companys existing share repurchase programme, Pfizer said. Bloomberg
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