Pfizer–Allergan merger agreement terminated

Allergan reiterates strong standalone growth profile and strategy following termination of Pfizer transaction.

Allergan reiterated its compelling standalone growth profile and strategy following the announced termination of the combination of the two companies. Allergan is positioned to drive strong, sustainable growth powered by leading franchises, new potential blockbuster product launches and unmatched pipeline.

"While we are disappointed that the Pfizer transaction will no longer move forward, Allergan is poised to deliver strong, sustainable growth built on a set of powerful attributes. Leading therapeutic franchises with strong brands across seven therapeutic areas provide the foundation for continued strong growth in 2016 and beyond. Our pipeline is one of the strongest in the industry, loaded with 70 mid-to-late stage programs including 14 expected approvals and 16 regulatory submissions in 2016 alone," said Brent Saunders, CEO and President.

"Allergan is focused on delivering growth from an efficient operating structure while also being committed to investing in R&D through our Open Science model. The Company is also poised to deliver additional growth opportunities from its attractive financial profile and balance sheet, propelled by approximately $40.5 billion pre-tax from the sale of our Actavis Generics business to Teva, expected to close in June 2016."

"I would like to thank our more than 30,000 global employees for their continued focus and dedication to our business during a time of incredible transformation for our company. Their continued commitment to our customers and helping them meet the needs of their patients is remarkable, and I applaud them for their efforts."

Based on a preliminary review of the proposed regulations outlined in the US Treasury Notice, Allergan believes that the regulations will have no material impact on the company's standalone tax rate. Allergan plans to report its first quarter earnings in its normal timelines by 10 May 10, where it will also provide an update on its plans to simplify the company's operations post the close of the Teva transaction.