Pfizer had abandoned its attempt to buy Pharmaceutical company AstraZeneca for almost £70 billion ($118 billion).
AstraZeneca's board had rejected Pfizer's final offer of £55 a share.
Pfizer had said that following the board's rejection, they did not intend to make an offer.
The proposed transaction had created uproar in Britain, Sweden and US as it would have led to job cuts.
Fine on Pfizer
In September 2009, Pfizer had pleaded guilty to illegal marketing of the arthritis drug Bextra for uses unapproved by the U.S. Food and Drug Administration (FDA). It agreed to a $2.3 billion settlement, the largest health care fraud settlement at that time.
27 Oct 2015
Pfizer tops Wall Street third quarter forecasts
Beating Wall Street's expectations of 51 cents/share for the third quarter, Pfizer raised its 2015 earnings forecast to 60 cents/share.
Pfizer benefited from surging sales of some of its key products.
These sales helped the company in countering costs tied to a $17 billion acquisition by the company.
Pfizer said it expected the adjusted earnings of 2015 to be $2.16 to $2.20 per share.
29 Oct 2015
Pfizer may buy botox-maker company Allergan
Pharmaceutical giant Pfizer was in talks botox-maker company Allergan to discuss a takeover deal.
If Pfizer's deal is successful, it would become the world's largest healthcare group with a market value of around $330 billion.
WBB Securities' analyst Stephen Brozak said that huge companies like Pfizer do not have a choice but to acquire smaller companies to grow bigger in the business.
Why does Pfizer want to acquire Allergan?
The deal would help Pfizer in lowering its tax bill as the botox-maker Allergan was based in Dublin, Ireland, where taxes were low.
Allergan's revenue was increasing at a rate of 39% and this would give boost to Pfizer's revenues.
Recent market conditions had decreased the value of Allergan and Pfizer realized that it was the best time to make a deal.
Financials of Pfizer
As of 2015, Pfizer inc. had a market value of $219 billion. It recorded a revenue of US$ 49.605 billion and net income of US$ 9.135 billion in 2014.
23 Nov 2015
Pfizer acquires Allergan for $150bn in healthcare's biggest deal
In healthcare sector's largest deal, Pfizer Inc obtained legal board support for its takeover of Allergan Plc, the Botox maker for more than $150 billion.
Pfizer will pay 11.3 of its shares for each Allergan share.
After the formal announcement Pfizer will redomicile to Ireland, where Allergan is registered.
This move to Ireland will help Pfizer enjoy the benefits of slashed corporate tax rates.