Allergan confirms approach from Pfizer

Drug maker Allergan confirmed on Thursday that it has received an approach from Pfizer Inc regarding a potential combination.

Allergan said the two were in “preliminary friendly discussions”, adding that no agreement has been reached and there can be no certainty the talks will lead to a deal.

The company said it remains committed to divesting its global generics business to Teva Pharmaceutical Industries.

"Under any potential scenario with Pfizer, Allergan remains strongly committed to complete the proposed divestment of its global generics business to Teva Pharmaceutical Industries and expects the generics divestiture transaction to close in the first quarter of 2016," it said.

Shares in both companies were halted in early trading on Thursday.