Pfizer, Allergan close to $150 billion merger: reports

SHARE Pfizer, Allergan close to $150 billion merger: reports

Pfizer Inc. and Botox-maker Allergan Plc could announce a $150 billion merger plan as soon as Monday, according to reports.

The companies’ boards were expected to vote Sunday on a plan that would create a pharmaceutical giant and possibly shift its headquarters to Europe for tax savings, the New York Times and Wall Street Journal reported Sunday.

Pfizer completed its $15 billion deal for Hospira, the Lake Forest maker of injectable drugs, in September.

A merger could enable Viagra maker Pfizer, the world’s second-biggest drugmaker by revenue, to surpass Switzerland’s Novartis AG and regain the industry’s top spot. It would also add Allergan’s brand-name medicines for eye conditions, infections and heart disease to Pfizer’s extensive portfolio of vaccines and drugs for cancer, pain, erectile dysfunction and other conditions.

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