ARTICLE | Finance
M&Allergan
Totting up Allergan's available cash for M&A
October 10, 2016 7:00 AM UTC
Even after a two-month stretch that has seen Allergan plc (NYSE:AGN) acquire five biotechs and in-license a pharma asset, the company's gas tank is still nearly full.
Allergan's bank account swelled to nearly $37 billion on Aug. 2 when it completed the sale of its generics business to Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) for $33.4 billion in cash and about $5.4 billion in stock. Allergan promptly used $9 billion of the proceeds to pay down some debt and as of Aug. 8, the company had $27.6 billion in cash. ...