Pfizer and Allergan announce multi-billion dollar merger
US pharmaceutical giant Pfizer has announced its intentions to undertake the second-largest company merger in history by joining with Irish drug company Allergan.
If it goes ahead, the deal will be worth US$160 billion which is equivalent to $220 billion Australian dollars.
The merger would result in the creation of the world’s largest drug company. It has yet to be approved by the US federal government however the company’s Chief Executive Ian Read has experienced his confidence that it will go ahead.
Products in Australian supermarkets
Pfizer is well known in Australia for its large range of pharmaceutical drugs such as Viagra. In addition, Pfizer sells a large number of vitamins and other health related products stocked by Australian supermarkets including Centrum multivitamins, Advil pain relief and Caltrate bone and muscle supplements.
Other Pzifer brands in Australian supermarkets include:
- Centrum multivitamins
- Advil pain relief
- Chapstick lip balms
- Dimetapp children’s pain relief
- Caltrate supplements
- Robitussin cough medicine
Pfizer disposed of its infant formula division (S-26 Gold, SMA and Promil brands) to Nestle in 2012.
Allergan sells an eye drop and optical related products through Australian chemists including Chemist Warehouse and Priceline Pharmacy.
Some have criticised the merger saying Pfizer is only entering into the partnership to take advantage of Irelands low company tax rates, 17-18 per cent compared to the US’ 25 per cent rate.
