The decision to drop the deal came after U.S. District Judge Brian Martinotti refused to certify a class in the litigation, which also targets insulin drug makers Novo Nordisk and Sanofi.
Drugmakers make big profits in the U.S. But many pay taxes far below the 21% corporate tax rate. Pfizer's effective tax rate is so low it's getting a big refund despite booking $59 billion in revenue.
Moderna's patent lawsuit claiming Pfizer and BioNTech copied its COVID-19 vaccine technology will be put on hold while the U.S. Patent Office determines whether two of the three Moderna patents at issue are valid.
Millions in Sackler donations sat dormant, rising in value as the opioid epidemic raged and as other institutions distanced themselves from the makers of a notorious painkiller.
Trikafta, which was approved in 2019 and works for about 90% of patients with the deadly genetic disease, had an annual list price of more than $326,000 in the United States at the end of last year.