Pfizer and Allergan are said to be in "friendly discussions" to create the world's biggest drug manufacturer, according to an article in U.S. News & World Report.
A merger could position Pfizer, the world's second-biggest drugmaker by revenue, to surpass Novartis AG and regain the industry's top spot, the article said.
Both companies said they were in "preliminary friendly discussions." Allergan said there's no guarantee that the negotiations with Pfizer Inc. will lead to a deal.
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