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Pfizer (PFE) Stock Advances on Possible Allergan Merger

NEW YORK (TheStreet) -- Shares of Pfizer (PFE - Get Report) are up by 1.31% to $35.45 in early morning trading on Thursday, as the comapny enters discussions with Allergan (AGN) about a possible merger, according to a statement by Allergan.

Pfizer recently approached Allergan about a takeover that would create the world's largest healthcare group, valued at around $330 billion, Reuters reports.

An acquisition of Allergan could benefit the global bio-pharmaceutical company through lower tax rates, as Dublin-based Allergan pays a lower tax rate than does New York City-based Pfizer, the Wall Street Journal reports. Pfizer would likely benefit from Allergan's growth as well.

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Potential obstacles include price, as shares of drug companies decline, possible layoffs and facility closures by Pfizer, an unclear future for Allergan CEO Saunders and the composition of a combined management team, the Journal notes.

No agreement has been reached, and the talks will not necessarily...