Sanders leads leftward Dem movement on Pfizer merger

The merger of the companies would make Pfizer-Allergan the largest pharmaceutical company in the world and could allow Pfizer to shift its corporate residence overseas to receive a tax break. Sanders called on the president and the Congress to use their authority to block the merger.

“The Pfizer-Allergan merger would be a disaster for American consumers who already pay the highest prices in the world for prescription drugs,” Sanders said in a statement. “The Obama administration has the authority to stop this merger, and it should exercise that authority. Congress also must pass real tax reform that demands that profitable corporations pay their fair share of taxes.”

Soon after Sanders sent out his statement condemning the inversion, Hillary Clinton said that the merger would “leave U.S. taxpayers holding the bag,” and she called on Congress to ensure those big corporations “pay their fair share.” The former secretary of state has numerous ties with Pfizer, as they have donated over $39,000 to her presidential campaign and between $1 and $5 million to the Clinton Foundation.

Clinton also said that she would propose specific steps in the coming weeks to prevent corporate inversions, “which take advantage of loopholes that litter our tax code, distort incentives for investment and disadvantage small businesses and domestic firms that cannot game the international tax system.”

Underdog candidate Martin O’Malley also chimed in saying that if elected he would enforce antitrust laws to counter the rising costs of healthcare.

“The Pfizer-Allergan merger is fundamentally unfair, and a prime example of how our capitalist economy is not supposed to work,” O’Malley said in a statement. “Recent mergers in the pharmaceutical and healthcare industries will reduce competition, reduce choice, and raise prices for American consumers. As President, I will aggressively enforce our antitrust laws to counter dramatic price increases in healthcare.”