Monday business round-up: Five key stories of the day

Botox maker Allergan is to merge with US rival Pfizer in the sector's biggest tie-up. Picture: AP/Richard Drew
Botox maker Allergan is to merge with US rival Pfizer in the sector's biggest tie-up. Picture: AP/Richard Drew
Share this article
0
Have your say

Here are five of today’s key business stories in one handy package.

US drugmaker Pfizer agreed to merge with Irish rival Allergan in a deal worth $160 billion (£106bn), making it the biggest tie-up in pharmaceuticals history. The firms said the deal would create an industry leader that would have more than 100 treatments in mid- to late-stage development.

Renewable energy firm Aquamarine Power ceased trading with the loss of 14 jobs after administrators failed to find a buyer. The Edinburgh-based firm called in administrators from BDO last month to manage the business and seek a sale or fresh investment, but no offers were forthcoming.

Red61, the Edinburgh-based ticketing software specialist, secured £572,000 in funding from venture capital firm Par Equity. The business, which runs ticketing operations for major events including the Edinburgh Festival Fringe, recently announced record revenue of £1 million and is now targeting new clients across the UK and overseas.

Monteith House on Glasgow’s George Square was acquired by Drum Income Plus Reit for £5.75m. The deal brings the total value of purchases by the real estate investment trust (Reit) to £26m since it was floated by property developer Drum on the London market in May.

Three Scottish cities made the UK’s top ten in terms of job creation, according to data from jobs website CV-Library. Liverpool saw the biggest increase since the start of the year, with a 45.2 per cent surge in the number of jobs listed, while Edinburgh was close behind in second place. Dundee and Glasgow also made the top ten.