Allergan Stock Climbs

Allergan Inc.’s stock rose Thursday amid speculation that the company may renew takeover talks with Pharmacia & Upjohn Inc., analysts said.

The stock climbed by $1.50 per share to close at $41.75 per share in trading on the New York Stock Exchange. Analysts attributed the move to news that Sweden’s Volvo AB set the price for its planned sale of 46 million Pharmacia & Upjohn shares. Once the sale is completed, Volvo will no longer be able to prevent drug maker Pharmacia & Upjohn from buying Allergan, analysts said. On May 13, takeover talks between the two companies broke down because of Volvo’s opposition, analysts said at the time.

Allergan and London-based Pharmacia & Upjohn both said it was against company policy to comment on speculation.