Pfizer, Allergan scrap $160 billion deal after U.S. tax rule change

Allergan (AGN) Ratings Affirmed by Moody's Amid Scrubbed Deal with Pfizer

Moody's Investors Service confirmed the Baa3 senior unsecured rating of subsidiaries of Allergan plc (NYSE: AGN), including Actavis, Inc., Actavis Funding SCS, Allergan Inc., and Forest Laboratories, Inc. (together, "Allergan"). The confirmation follows the announcement of the termination of the proposed combination with Pfizer Inc. (rated A1 stable). The outlook is stable.

"Allergan will likely pursue acquisitions and share repurchases that will erode its significant cash balance following the divestiture of the generics business to Teva" said Jessica Gladstone, Senior Vice President with Moody's. "However, we believe this will be balanced with enough... More

Pfizer (PFE) Pushes Higher after Ending Allergan Deal; Shares Cross Above 200 DMA

Pfizer (NYSE: PFE) is adding to early gains after terminating the deal to acquire Allergan and shares just crossed about its 200 day moving average on high volume. Shares last traded up 3.7% to $32.53.

Piper Jaffray Sees Value in Allergen (AGN) Post-Pfizer; PT to $311

Piper Jaffray analyst David Amsellem reiterated his Overweight rating while trimming his price target on Allergen (NYSE: AGN) to $311.00 (from $333.00) after the collapse of the Pfizer deal. The analyst sees ample room for valuation creation post--Pfizer.

"With the collapse of the merger between Allergan... More

BMO Capital Reiterates Outperform on Pfizer (PFE) Following Allergan Merger Termination

BMO Capital reiterated an Outperform rating and $39.00 price target on Pfizer (NYSE: PFE) following the company's announcement the merger agreement with Allergan plc was terminated. BMO believes that Pfizer will likely look for more deals to strengthen its innovative business, and the recent weakness... More