Allergan's Fishing For Deals, But Don't Expect A Big Catch
This article was originally published in The Pink Sheet Daily
Executive Summary
Allergan will use its $36bn in after-tax cash and equity from the sale of its generics business to Teva to reduce debt, buy back shares of its stock, and to acquire companies or assets, but don't expect Allergan to catch any big fish in its deal-making net.
You may also be interested in...
Pfizer Buys Anacor With Blockbuster Ambitions For Crisaborole
Pfizer agreed to acquire Anacor for roughly $5.2bn, with the expectation that its late-stage PDE4 inhibitor crisaborole, under review by FDA for the treatment of atopic dermatitis, will generate peak sales of more than $2bn.
Allergan Seeks Opportunities To Dominate In Key Therapeutic Areas
CEO Brent Saunders reviewed past deals, but not the present negotiations with Pfizer, during R&D day.
Finance Watch: Pfizer Adds $3.5bn To Cash Stockpile, Reduces Stake In Haleon
Public Company Edition: Pfizer’s stake in Haleon dropped from 32% to 22.6% with a massive sale of shares of the GSK consumer health spinout. Also, Galderma prices its Swiss IPO, Madrigal grosses $600m in a post-approval offering and bluebird secured up to $175m in debt.