The biggest deal of pharmaceutical
is here and Pfizer Inc. will become Pfizer Plc. The maker of Viagra and Lipitor
has struck a deal to buy Botox Maker Allergan Plc. in a transaction valued at
about $160 Million. The complex deal, the biggest ever in the healthcare
sector, will allow Pfizer to shift its legal base to Ireland in a so called “inversion”
that would reduce its tax rate.
New York based Pfizer and Allergan,
headquartered in Ireland said Allergan shareholders will receive 113 shares in
the combined company for each share held. The deal values Allergan shares at
$363.63 each. Pfizer stockholders will have the option of receiving one share
of the combined company for each of their Pfizer shares or receive cash.
Aggregate amount of cash to be paid is not less than $6 Billion or more than
$12 Billion.
Apart from male libido drug Viagra
and cholesterol drug Lipitor, Pfizer major drugs include nerve pain treatment
Lyrica and Prevnar, a treatment for Pneumonia. Allergan best known for its
anti-wrinkle treatment Botox also makes Alzheimer drug Namenda and dry eye
medication Restasis. The business of Pfizer and Allergan will be combined under
Allergan Plc., which will be renamed Pfizer Plc.
No comments:
Post a Comment