Allergan Chief Brent Saunders On Failed Pfizer Deal And Why He's Not Like Valeant

Well, that’s quite a monkey wrench. Two days ago, Allergan AGN +0.61% was set to be purchased by larger rival Pfizer PFE -0.90% in the largest pharmaceutical deal ever and its chief executive, Brent Saunders, looked as if he would be the heir apparent at Pfizer. But new rules from the Department of Treasury removed the tax benefits Pfizer would have accrued from the deal, and so Pfizer walked away. I spoke with Saunders this morning about the deal.