Pfizer in merger talks with Botox-maker Allergan: Report
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Pharmaceutical giant Pfizer Inc recently approached Botox-maker Allergan Plc to discuss what could be the biggest takeover deal this year, the Wall Street Journal said on Wednesday, citing people familiar with the matter.
The healthcare sector has seen an unprecedented wave of deals since early 2014, from large drugmakers buying up smaller rivals, to consolidation among makers of generic medicines and tie-ups between insurers.
A bid for Allergan, which has a market value of $113 billion, would be Pfizer's second attempt to acquire a European rival, following its unsuccessfully courtship last year of Anglo-Swedish pharmaceuticals group AstraZeneca Plc.
After six months of negotiation, AstraZeneca rejected Pfizer's final bid in May 2014. The potential for lowering Pfizer's tax bill by switching its headquarters from the United States to the United Kingdom was touted by Chief Executive Officer Ian Read as a key reason for the deal.
The healthcare sector has seen an unprecedented wave of deals since early 2014, from large drugmakers buying up smaller rivals, to consolidation among makers of generic medicines and tie-ups between insurers.
A bid for Allergan, which has a market value of $113 billion, would be Pfizer's second attempt to acquire a European rival, following its unsuccessfully courtship last year of Anglo-Swedish pharmaceuticals group AstraZeneca Plc.
After six months of negotiation, AstraZeneca rejected Pfizer's final bid in May 2014. The potential for lowering Pfizer's tax bill by switching its headquarters from the United States to the United Kingdom was touted by Chief Executive Officer Ian Read as a key reason for the deal.
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