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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

Published Mon, Nov 23, 2015 · 09:50 PM
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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 offer 11.3 of its own shares for each Allergan share.

Pfizer stockholders will receive one share of the combined company for each of their Pfizer shares. The offer values Allergan's shares at US$363.63 each, compared with the stock's close of US$312.46 on Friday.

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