Pfizer And Allergan To Merge, Creating World's Largest Drug Company

03:37

November 23, 2015

People walk past Pfizer's world headquarters, Monday, Nov. 23, 2015 in New York. Pfizer and Allergan will join in a $160 billion deal to create the world's largest drugmaker. (Mark Lennihan/AP)

The drug companies Pfizer and Allergan said today that they will merge, in a nearly $160 billion deal that would create the world's biggest drug maker, and bring Botox and Viagra under one roof.

Allergan is based in Dublin, Ireland, and the joint company could reincorporate there - making it an inversion, and the biggest inversion ever. Here & Now's Meghna Chakrabarti speaks with CBS News' Jill Schlesinger to understand what's happening.

Guest

Jill Schlesinger, business analyst at CBS News. She tweets @jillonmoney.

This segment aired on November 23, 2015.