Pfizer Inc. CEO Ian Read said the company is evaluating tax inversion M&A opportunities but noted the big pharma would need to complete such a deal by the end of 2016, after which a new Congress would be in place – presenting further regulatory risks.

Pfizer Inc. released positive Phase III data from two induction trials testing its oral Janus kinase inhibitor Xeljanz (tofacitinib) in patients with the inflammatory bowel disease ulcerative colitis, but the company will await the results of another Phase III maintenance study before filing for an indication expansion.