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US: Pfizer set to buy Allergan for more than $150 bln

By  |  November 22, 2015

Pfizer Inc was due to secure formal board approval on Sunday for its acquisition of Botox maker Allergan Plc for more than $150 billion, creating the world’s biggest drug maker, according to people familiar with the matter.

The deal, the largest ever in the healthcare sector, is sure to draw political ire in a U.S. presidential election year because Pfizer would redomicile to Ireland, where Allergan is registered, in a so-called “inversion” that would slash its corporate tax rate.

It will also reignite debate in the pharmaceutical industry over the role of research and development, with Allergan Chief Executive Brent Saunders, a prolific dealmaker and a skeptic of in-house drug discovery, joining the combined company in a position to influence its strategy.

Full content: Bloomberg

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