While you were sleeping: Health-care stocks slide

Tue, 23 Sep 2014

By Margreet Dietz Sept. 24 (BusinessDesk) - Health-care stocks including Medtronic fell after the US Treasury Department said it plans to rein in corporate tax inversions. A corporate inversion is a transaction in which a US-based multinational restructures so that the US parent is replaced by a foreign parent, in order to avoid US taxes. In the US, shares of Medtronic fell 3.3 percent and shares of AbbVie declined 2.4 percent, while in Europe, shares of AstraZeneca slumped 3.6 percent, while those of Shire dropped 2.5 percent. "Inv...

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