Allergen's (AGN) Stand-Alone Price Target is $282 at Deutsche Bank

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

Leerink Partners Cuts Price Target on Allergan (AGN) Following New U.S. Treasury Regulations

Leerink Partners maintained an Outperform rating on Allergen (NYSE: AGN), and cut the price target to $272.00 (from $340.00), following new U.S. Treasury regulations. The Treasury's temporary regulation regarding new tax inversion rules creates a risk to PFE (MP) - AGN closing.

Analyst Jason Gerberry... More

Mizuho Securities Downgrades Allergen (AGN) to Neutral

Mizuho Securities downgraded Allergen (NYSE: AGN) from Buy to Neutral with a price target of $250.00 (from $330.00), as they now model the company as a stand-alone with the Pfizer deal in jeopardy.

Analyst Irina Koffler commented, "We now model AGN as a stand-alone... More

Allergan (AGN) Could Move on Valeant's (VRX) Bausch + Lomb Unit if Pfizer (PFE) Deal Fails - Analyst

BTIG issued brief commentary on Allergan (NYSE: AGN) following the U.S. Treasury's tax inversion actions on Monday night.

Analyst Timothy Chiang commented on potential routes for Allergan if its deal with Pfizer (NYSE: PFE)... More

Exclusive: Pfizer leaning toward abandoning deal with Allergan - source

By Pamela Barbaglia

(Reuters) - Drugmaker Pfizer Inc (NYSE: PFE) is leaning toward abandoning its $160 billion agreement to buy Allergan Plc (NYSE: AGN) in light of the U.S. Treasury's new measures to curb such tax evading deals, a source familiar with the situation said on Tuesday.

The discussions between the two companies and their lawyers are set to continue for the remainder of Tuesday and no final decision has been made, the source said, speaking on condition of anonymity.

However,... More

UPDATE: Pfizer (PFE) Examining Ways to Save Allergan (AGN) Deal - Bloomberg

(Updated - April 5, 2016 1:58 PM EDT)

Pfizer (NYSE: PFE) is scrambling to save its merger with Allergan (NYSE: AGN), according to Bloomberg, citing people with knowledge of the matter.

Lawyers are examining how... More

Pfizer (PFE) leaning toward abandoning deal with Allergan (AGN) - Reuters

Pfizer (NYSE: PFE) leaning toward abandoning deal with Allergan (NYSE: AGN) - Reuters

Most Important Data Point Going Foward in AGN/PFE Deal Will Be Path Forward Pfizer (PFE) Chooses - RBC

RBC Capital analyst Randall Stanicky offered some more commentary on Allergan (NYSE: AGN)/Pfizer (NYSE: PFE) after a call with noted tax expert Bob Willens. Stanicky said the most important data point going forward in their view will be to see what course of action PFE chooses

Bob Willens sees... More

Pfizer (PFE), Allergan (AGN) deal appears likely to be dead - CNBC's Faber

Allergan (NYSE: AGN), Pfizer (NYSE: PFE) deal appears likely to be dead, according to CNBC's David Faber.

Treasury Action More than a Wrinkle for Pfizer (PFE)/Allergan (AGN) Deal - Jefferies

Jefferies analyst Jeffrey Holford said the new Treasury action looks like more than just a wrinkle for the Pfizer (NYSE: PFE)/Allergan (NYSE AGN) merger.

Holford commented, "Yesterday's Treasury action is expected to have a significant impact on the PFE/ AGN merger, potentially derailing it. Management has yet to fully evaluate the situation. Investors may hope for clarity on the separation of GEP if the deal is dead, but we are not so sure that this will be... More

Pfizer (PFE) Announces Tofacitinib Phase 3 Met Primary Efficacy Endpoints in Psoriatic Arthritis

Pfizer Inc. (NYSE: PFE) announced top-line results from its first Phase 3 study investigating tofacitinib for the treatment of psoriatic arthritis, Oral Psoriatic Arthritis triaL (OPAL) Broaden. This study evaluated the efficacy and safety of tofacitinib 5 mg and 10 mg twice daily (BID) in adult patients with active psoriatic arthritis (PsA) who had an inadequate response to at least one conventional synthetic disease-modifying antirheumatic drug (csDMARD) and who were tumor necrosis factor inhibitor (TNFi)-naïve. OPAL Broaden met its primary efficacy endpoints demonstrating that both tofacitinib 5 mg BID and 10 mg BID were superior to... More

New Treasury Action Could Block, or Significantly Change Pfizer (PFE)/Allergan (AGN) Deal - BMO Capital

BMO Capital analyst Alex Arfaei weighed in on Pfizer (NYSE: PFE) after the U.S. Treasury and the IRS issued temporary and proposed regulations to further reduce the benefits of and limit the number of corporate tax inversions.

"We believe that the most relevant proposal for the PFE + AGN merger is the action to 'limit inversions by disregarding foreign parent stock attributable to recent inversions or acquisitions of U.S. companies.'," the analyst said. "For the purposes of computing the ownership percentage when determining if an acquisition is treated as an... More

Allergen (AGN) Trading Below Standalone Value Following New Treasury Action - RBC

RBC Capital analyst Randall Stanicky weighed in on Allergen (NYSE: AGN) after Treasury issued aggressive new inversion regulations and proposed earnings stripping.

Stanicky said the main focus is on the regulation aimed at targeting companies that avoid section 7874 by acquiring companies over a short period of time (in this case three years) so that foreign stock related to purchases of American companies would be excluded from the ownership calculation when determining how deals would be treated for deals. He said earnings stripping is less of a surprise and has been... More

Allergan (AGN), Pfizer (PFE) Comment on U.S. Treasury Action; Won't Comment on Potential Impact

Pfizer Inc. (NYSE: PFE) and Allergan plc (NYSE: AGN) issued the following statement regarding the recently issued Department of Treasury Notice:

We are conducting a review of the U.S. Department of Treasurys actions announced today. Prior to completing the review, we wont speculate on any potential impact.

Pfizer (PFE) Conducting Review of U.S. Treasury Notice, Won't Speculate on Potential Effect - Bloomberg, Citing Spokeswoman

Pfizer (NYSE: PFE) Conducting Review of U.S. Treasury Notice, Won't Speculate on Potential Effect - Bloomberg, Citing Spokeswoman

Allergan (AGN) Slammed on New U.S. Treasury Inversion Action; Pfizer (PFE) Higher

Pending merger partners Allergan (NYSE: AGN) and Pfizer (NYSE: PFE) are trading in opposite directions following... More