Pharma BD Deal Intelligence
Outcome grade pending — assessed 5 years post-close.
Full analysis, sources & comparables →Ranks computed across 828 graded deals (Critic + Outcome Score both present).
Reports indicated Pfizer was prepared to walk despite a potential breakup fee, signaling that the Treasury's adverse tax law change had stripped the deal's…
Analysts argued Pfizer would now need to pursue alternative bolt-on M&A (Biogen, Regeneron, AbbVie cited) to compensate for losing access to Allergan's growth…
C&EN's year-end retrospective described the Pfizer-Allergan breakup as the defining pharma M&A event of 2016, reshaping U.S. tax-driven dealmaking for years…
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Pfizer and Allergan terminated their previously announced ~$160B merger by mutual agreement following U.S. Treasury anti-inversion regulations issued April 4, 2016, which the companies determined qualified as an Adverse Tax Law Change. Pfizer paid Allergan $150M for expense reimbursement. Originally announced November 2015 with $363.63/share consideration; would have been the largest pharma deal in history.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Pfizer Inc. / Allergan plc (this deal) | 2016 | $160.0B | — |
| Pfizer Inc. / BioNTech SE | 2020 | $748M | 100 |
| Pfizer Inc. / FoldRx Pharmaceuticals | 2010 | — | 99 |
| Pfizer Inc. / Medivation Inc. | 2016 | $14.0B | 86 |
| Pfizer Inc. / Wyeth | 2009 | $68.0B | 86 |
| Pfizer Inc. / Warner-Lambert Company | 2000 | $90.0B | 83 |
| Pfizer Inc. / Arvinas, Inc. | 2021 | $2.4B | 77 |
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