Botox producer Allergan has accepted a $66 bn takeover bid by Actavis.
The deal ends a nine-month pursuit of Allergan by the Canadian company Valeant Pharmaceuticals.
Dublin-based Actavis offered cash and shares way above the amount Valeant put on the table.
It marks a victory for Allergan, who fought the Valeant bid in court claiming the Canadian drugmaker has a history of cutting research and development spending at companies it acquires.
Get a different perspective
Every story can be told in many ways: see the perspectives from Euronews journalists in our other language teams.