The agreement's been made: The boards at Pfizer and Allergan have ratified a megamerger--worth about $160 billion--that will create the world's biggest pharma company and send Pfizer overseas, the companies announced on Monday.
Pfizer--searching for deals in advance of a potential split-up later this decade--has approached Allergan about an acquisition, Allergan said in a statement on Thursday. The drugmakers are in "preliminary friendly discussions," Allergan said, though they won't necessarily amount to a combination.
Pfizer CEO Ian Read says he's met the drug-cost enemy, and it isn't pharma. The firestorm over U.S. drug pricing isn't a problem for drugmakers to solve, Read told Forbes in an interview. It's an insurance problem.
Pfizer CEO Ian Read isn't too worried about proposals to crack down on U.S. drug pricing. Presidential candidate Hillary Clinton's slate of new measures--which include negotiating power for Medicare--aren't likely to pass muster in Congress, Read told Evercore ISI analyst Mark Schoenebaum.
Pfizer won accelerated approval of Ibrance as a first-line breast cancer treatment in February. Now it says that data in a study of the drug as a second-line treatment was so good that it stopped that study early.
Pfizer CEO Ian Read not only isn't done with deals after his Hospira purchase; he's also looking at creative swaps, a la the Novartis-GlaxoSmithKline deals.
Pfizer CEO Ian Read is dipping into the pharma giant's big reserve of cash to gobble up Hospira, one of the pioneers in the move to develop biosimilars of blockbuster biologics.
Pfizer CEO Ian Read makes no apologies for his interest in working a deal to move his tax home overseas. Despite the U.S. government's attempt to discourage tax inversions--like the one Pfizer would have achieved by buying AstraZeneca--Read says he's not deterred.
No news isn't good or bad for Pfizer deal-watchers. It's just no news. Anyone hoping for a halfway-clear idea of CEO Ian Read's next buyout move was disappointed after Tuesday's second-quarter earnings call with analysts.
Long dominated by global behemoths like Johnson & Johnson and Pfizer, this executive-pay ranking now includes almost as many biotechs as pharma companies.