Effective immediately, the merger between Allergan and Pfizer has been terminated by mutual agreement. Pfizer has agreed to pay Allergan $150 million for reimbursement of expenses associated with the transaction.
“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,” said Brent Saunders, CEO and president of Allergan.
The company hosted a brief conference call and webcast to discuss its stand-alone growth profile and address investor questions. A replay of the conference call will be available through April 20, 2016 on the company’s website (www.allergan.com). Allergan plans to report its first quarter earnings as scheduled by May 10, 2016.