People with the knowledge of matters said that Pfizer Inc. was scheduled to take a formal approval from its board on Sunday for acquiring Allergan Plc in a deal of $150 billion or more.
The sources said if things work out, Pfizer and the Botox maker together will create the largest drug maker of the word.
Reportedly, Pfizer Inc and Allergan Plc, the two drug makers are considering combining which may lead to the largest merger in the healthcare industry.
The report citing sources with knowledge of the matter said on Wednesday that, Pfizer recently approached Allergan, the maker of Botox regarding the deal.
What is the relation between Valeant and Philidor, is now a question being asked by many. The connection between the two seem to be more strong than ever disclosed earlier, at least that is what the interviews with the ex-employees and doctors who prescribe drugs from Valeant, and patients suggested.
On Friday, Mylan, the Dutch generic drug making company said that speculation which says that that company may be acquired by Teva Pharmaceutical is just a rumour and it doubts whether the regulators would even approve this kind of a deal. The drug makes said that it decides to remain a stand-alone company.
Orexigen Therapeutics Inc's report which said that Contrave, its anti-obesity drug offers surprising benefits to cardiovascular patients helped the company to gain greater than thirty percent on Tuesday.
However the disclosure by the company based in Miami, made the Food and Drug Administration to ask for a second run on the cardiovascular outcomes trial.