Friends of Manufacturing

Pfizer Plans $5 Billion Boost in U.S. Manufacturing From Tax Law Changes

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Pfizer Inc. reported a surge in profit due to gains from the recently enacted tax law, and the drugmaker said it plans to pay a tax of $15 billion on overseas profits over the next eight years.

The company also said it plans to invest about $5 billion in capital projects in the U.S. over the next five years, including bolstering its manufacturing presence.

"I am pleased that the aspects of most importance to us were addressed in the new tax code," Chief Financial Officer Frank D'Amelio said.

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