The head offices of Valeant Pharmaceuticals  in Laval, Quebec. The Canadian-based company said Allergan’s refusal to enter talks left it with no option but to go hostile in the battle for control of its US rival. Photograph: Christinne Muschi/Reuters

Valeant Pharmaceuticals is preparing to take its bid for Allergan direct to shareholders after its latest $53 billion offer was rejected by the mak(...)

Workers leaving the Bausch & Lomb plant in Waterford yesterday. Photograph: Mary Browne

“Valeant’s model of cutting and slashing really doesn’t work for more than a very short period of time.”The words are those of Allergan chief executiv(...)

Dr Keith Marcus injects Botox between a patient’s eyes. Valeant Pharmaceuticals International has offered to buy Allergan, the maker of the Botox wrinkle treatment, in a cash-and-stock deal valued at $45.7 billion. Photographer: Patrick  Fallon/Bloomberg

US drugmaker Allergan today rejected Valeant Pharmaceuticals International’s $47 billion takeover offer, saying its proposed cost cuts were too steep.(...)

Pfizer’s plan to move its domicile to Britain by acquiring AstraZeneca would lower its taxes. Photograph: getty images

Rumours about a massive healthcare deal were circulating in industry circles, months before Pfizer disclosed its $100 billion pursuit of Britain’s Ast(...)