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BIGGER PHARMA

Pfizer Reaches $150B Deal With Allergan

Viagra maker marries Botox company.

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Andrew Kelly/Reuters

Pharmaceutical giant Pfizer sealed the deal in a blockbuster $150 billion merger with Irish-based drug maker Allergan. In one of the largest transactions in industry history, Botox maker Allergan will acquire Pfizer in a maneuver known as a reverse merger, which will allow the U.S. company to legally move abroad and lower its tax bill. The tie-up comes despite the Obama administration’s effort to thwart such mergers and the loss of corporate tax revenue.

Read it at The New York Times

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