Pfizer Said to Approach Actavis to Gauge Interest in Deal

Pfizer Inc. has approached Actavis Plc to express its interest in an acquisition, people with knowledge of the matter said, as the U.S. drugmaker continues to explore ways to cut its tax rate and gain a new product pipeline.

The companies aren’t currently in formal talks and Pfizer hasn’t made an offer, the people said, asking not to be identified because the information is private. The approach comes after Pfizer in May abandoned a $114 billion bid for AstraZeneca Plc -- which would also have let it move its tax domicile abroad in a so-called tax inversion.