Pfizer in talks to buy Allergan, create pharmaceuticals giant, Wall Street Journal reports
The combination would create the world’s largest healthcare group, edging out Johnson & Johnson.
Pharmaceutical giant Pfizer is reportedly poised to buy Botox-maker Allergan, in what would be one of the biggest takeover deal this year, according to The Wall Street Journal.
The merger talks are in the early stages, according to the report.
The move is seen as a way for Pfizer to grow as revenue is expected to slide 3.3 percent this year. Allergan's revenue is expected to rise by 39 percent, according to estimates.
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Allergan has a market value of $113 billion and Pfizer, $219 billion.The combination would create the world's largest healthcare group, edging out Johnson & Johnson.
It would be Pfizer's second recent attempt to acquire a big rival, following its unsuccessful attempt last year to buy AstraZeneca. That deal would have had the tax advantage of switching headquarters to the United Kingdom, a move that was roundly criticized by American officials.
A takeover of Allergan in Dublin could offer a similar tax advantage.
Pfizer, the largest U.S. drugmaker, has also been suggested as a possible acquirer of GlaxoSmithKline and Shire.
Twitter: @SusanJMorse
