Pfizer, Allergan Confirm Preliminary Merger Talks

Pfizer is in preliminary talks to purchase part or all of Irish drugmaker Allergan, the two companies confirmed last week.

News of the talks comes seven months after Allergan — which is best known as the maker of Botox (botulinum toxin) — was purchased by Actavis in a deal valued at roughly $70 billion. Actavis subsequently changed its name to Allergan.