Allergan, Pfizer confirm discussions over potential merger

Allergan today announced that it has been approached by Pfizer and is in preliminary discussions regarding a potential business combination transaction, according to a press release.

“No agreement has been reached and there can be no certainty that these discussions will lead to a transaction, or as to the terms on which a transaction, if any, might be agreed,” Allergan stated in the release.

In a separate announcement posted on its website, New York-based Pfizer confirmed that it is in preliminary discussions with Allergan related to a possible transaction. Pfizer noted that no agreement has been reached.

Allergan plc is headquartered in Dublin and markets a portfolio of products for medical aesthetics, including Botox (onabotulinumtoxinA) and Kybella (deoxycholic acid), eye care, the central nervous system, gastroenterology, women’s health, urology, cardiovascular and anti-infective therapeutic categories, according to the release. It reported that the announcement fell under the Irish Takeover Rules.

Allergan reported in its release that it remains committed to completing the proposed divestment of its global generic business to Teva Pharmaceuticals Industries, with an expected transaction closure in the first quarter of 2016.

Reference: www.allergan.com; www.pfizer.com