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news.Pfizer and Allergan are considering a merger that is expected to create a new pharmaceuticals giant worth over $300bn.
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Allergan said it had been approached by Pfizer and is in preliminary friendly negotiations with respect to a potential business combination.
The company said no agreement has been reached and there is no certainty that the talks will lead to a deal.
Headquartered in Dublin, Ireland, Allergan develops, manufactures and commercializes pharmaceuticals, generic and over-the-counter medicines and biologic products.
Allergan markets a portfolio of products that offer treatments for the central nervous system, eye care, medical aesthetics, gastroenterology, women’s health, urology, cardiovascular and anti-infective therapeutic categories.
US-based Pfizer has a portfolio of products and medicines that support wellness and prevention, as well as treatment and cures for diseases across several therapeutic areas.
The acquisition of Allergan would enable Pfizer to complete a coveted tax inversion by shifting its base from the US to Ireland.
Last month, Pfizer acquired Hospira for about $15bn to gain a leading position in the global market for injectable drugs like biosimilars and expand its product offerings.
Lake Forest-based Hospira manufactures injectable drugs and infusion devices. The company markets several biosimilar drugs in Australia and Europe.
Image: Pfizer world headquarters. Photo: courtesy of Jim.henderson.