This summer, U.S. pharma and medical companies are packing their bags. But, it's not for vacation -- some American industry titans are leaving the country and they're never coming back. Covidien's deal with Medtronic all but assures the Irish equipment maker will absorb the Minnesota-based device company. With other deals brewing in the space, and the possibility of Pfizer acquiring AstraZeneca not for its drug pipeline, as much as its value as an international tax headquarters, the pharma, medical and healthcare industries may see a lot more M&A before the year is out.

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