Allergan confirms Pfizer approach, companies in talks

NEW YORK (AP) – Botox maker Allergan is confirming that it has been approached by Pfizer about a possible merger.

Trading in the shares of both companies have been suspended.

A deal between the pharmaceuticals would create a massive drug development company with treatments for a wide range of conditions ranging from high cholesterol to erectile dysfunction.

Allergan PLC said Thursday that the two companies are in “preliminary friendly discussions.”

The company said it won’t comment on speculation about terms of a possible transaction.

Allergan, based in Dublin, said no agreement has been reached and that there’s no certainty that the talks with Pfizer Inc. will lead to a deal.

Pfizer Inc. is based in New York.

Copyright 2015 The Associated Press. All rights reserved.

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