Pfizer and Allergan to merger

Pfizer is to acquire Botox producer Allergan for $160 million, Reuters reported. Consequently,the biggest pharmaceutical company will be created.

Pfizer would pay with 11.3 of its shares for each Allergan share, Reuter's sources said. There will also be a small cash component, accounting for less than 10 percent of the value of the contract, according to the unofficial reports.