Allergan Plc confirmed on Thursday that it has been approached by drug giant Pfizer Inc. regarding a possible combination of the two companies. The news of a potential deal, which would be the biggest merger of the year, was first reported by The Wall Street Journal. Allergan said the talks were preliminary and friendly, but cautioned that no agreement has been reached and there is no certainty that a deal will materalize. Both stocks were halted in early trade. “Under any potential scenario with Pfizer, Allergan remains strongly committed to complete the proposed divestment of its global generics business to Teva Pharmaceutical Industries Ltd and expects the generics divestiture transaction to close in the first quarter of 2016,” the company said.
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