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Pfizer to buy Allergan in US$160b deal to create No 1 drugmaker

Acquisition will be biggest this year; Pfizer chief will head combined company

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Pfizer stockholders will receive one share of the combined company for each of their Pfizer shares. It takes the cumulative value of deals in 2015 to more than US$600 billion.

New York

PFIZER Inc, the maker of Viagra and Lipitor, has struck a deal to buy Botox-maker Allergan plc in a transaction valued at about US$160 billion, creating the world's biggest drugmaker. New York-based Pfizer and Allergan, headquartered in Ireland, said on Monday that Pfizer would

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