Allergan, Plc

U.S. drug maker Pfizer Inc and Ireland-based Allergan Plc formally announced the scrapping of their $160 billion merger on April 6, in a big win for President Barack Obama who has been pushing to curb tax-slashing "inversion" deals.

US drugs giant company Pfizer has agreed a deal to buy Allergan for $160bn making this the biggest deal in history on pharmaceutical industry.

The merger will create the world’s biggest drugmaker, to be called Pfizer.

The deal involves Pfizer paying 11.3 of its shares for each Allergan share and will make Pfizer the world’s biggest drugmaker.

Pfizer Inc, the maker of Viagra and Lipitor, has struck a deal to buy Botox-maker Allergan Plc in a transaction valued at about $160 billion.

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.

Israeli pharmaceutical giant Teva said on July 27 that it was buying the generic drug business of Allergan for $40.5 billion, consolidating its position as a world leader in generics.

Teva will pay $33.75 billion in cash and offer $6.75 billion of its stock to Allergan, the company said, in a major move that will further shake up the industry.