Allergan confirms merger talks with Pfizer

DUBLIN — Allergan on Thursday confirmed that it is currently in talks with Pfizer regarding a potential combination of the two drug makers. A statement from the company said that it had been approached by Pfizer to discuss a transaction. Allergan did not offer any comment on the potential terms of an agreement or whether one would take place. 

 

A deal, if reached this year, would be the second big deal for Allergan in 2015, as earlier this year, it reached an agreement to sell its generics business to Israeli drug maker Teva — a deal that Allergan noted is still taking place regardless of what happens with Pfizer. The Teva deal is set to close in the first quarter of 2016, the company said. 

 

The news of Pfizer approaching Allergan comes at a time in which consolidation among drug companies is a growing trend.r Earlier this year, When Teva announced its Allergan Generics acquisition, it had been working to acquire Mylan, but dropped that bid in favor of the Allergan deal. And at the sametime that it was fending off an acquisition from Teva, Mylan was attempting to purchase Ireland-based Perrigo, a venture that Mylan is still pursuing, having recently tendered a $27 billion offer directly to Perrigo shareholders.

 

Allergan said that it would make further announcements regarding its talks with Pfizer when they were appropriate.