Botox maker Allergan confirmed Thursday that it was in early talks to combine with drug giant Pfizer Inc. in a deal that, if completed, would cap a remarkable spree of mergers this year that’s roiling the healthcare industry.
Allergan, a Dublin, Ireland-based firm with sizable operations in Irvine, said in a statement that it was approached by Pfizer and the discussions were “friendly,” but cautioned there was “no certainty” the talks would lead to a merger.
Allergan also declined comment on any possible terms of a deal. Allergan had a total stock-market value of $113 billion as of Wednesday’s close, so a Pfizer acquisition likelywould have a price tag well above that figure.
That would be the biggest deal of a year in which companies throughout the healthcare industry have joined forces to reposition themselves as various market and government forces, notably the Affordable Care Act, have changed the growth outlook for the firms’ revenues and profits.
Full content: CNBC
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