FTC seeks additional data on $160bn Pfizer-Allergan merger

The companies said the request was expected as part of the regulatory process and they will continue to work with the FTC in connection with the review.

Pfizer and Allergan still expect the transaction to complete in the second half of this year.

Under the terms of the deal announced in November 2015, the two companies will come together to create the world’s largest pharmaceutical company.

Allergan’s parent firm will be the parent of the combined new business. A subsidiary of Allergan will be merged with and into Pfizer, and subject to receipt of shareholder approval, the Allergan parent company will be renamed Pfizer plc upon completion of the transaction.

The combined company is expected to maintain Allergan’s legal and tax residency in Ireland.

Pfizer will have its global operational headquarters in New York and its principal executive offices in Ireland.

The combined company will benefit from a portfolio of medicines in several categories and a platform for sustainable growth with various payer groups.

Pfizer will improve its research and development capabilities in new molecular entities and product line extensions.

A combined pipeline of over 100 mid-to-late stage programs will support the business growth in the long term.

Pfizer expects to make a decision on a potential separation of the combined company’s innovative and established businesses by no later than the end of 2018.

Image: Pfizer World headquarters in New York City. Photo: courtesy of Norbert Nagel, Mörfelden-Walldorf, Germany.