Tag Archives: pfe

Pfizer, Allergan Near Deal As Tax Inversion Rules Loom

Pfizer (PFE) is near a massive deal to buy Allergan (AGN) and redomicile in Ireland, multiple reports said, even as the Treasury Department plans to impose new restrictions on tax inversions. Pfizer are discussing a deal that would pay $370-$380 a share for Botox maker Allergan, Bloomberg and Reuters reported late Wednesday. Allergan rose 4.5% to 310.83 on Wednesday, but retreated after hours following news of the inversion rules. Allergan traded

Allergan Beats Q3 Estimates Amid M&A, Pricing Talk

Specialty-drug giant Allergan (AGN) beat analysts’ Q3 estimates Wednesday as CEO Brent Saunders dodged questions about buyout talks with Pfizer (PFE) while defending the company’s drug-pricing strategies and distancing its model from its peer Valeant Pharmaceuticals International (VRX). Allergan’s sales rose 90% over the year-earlier quarter to $4.09 billion, about $50 million above analysts’ consensus, according to Thomson Reuters. Earnings

Allergan, Pfizer In Buyout Talks; Wall Street Cheers

Specialty drugmaker Allergan (AGN) confirmed Thursday that it’s in “preliminary friendly discussions” on a possible buyout by big pharma Pfizer (PFE), as Wall Street poured on favorable opinions of the combination. Late Wednesday, an anonymously sourced report in the Wall Street Journal said that Pfizer and Allergan were in buyout talks, setting off a round of speculation and calculation. The news wasn’t totally shocking, since Pfizer CEO Ian Read