Pfizer Inc. has agreed to pay $43 billion for biotech Seagen Inc. and its pioneering class of targeted cancer drugs / FP. The news tha...
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| Pfizer Inc. has agreed to pay $43 billion for biotech Seagen Inc. and its pioneering class of targeted cancer drugs / FP. |
The acquisition will give Pfizer access to Seagen's portfolio of cancer drugs, including Adcetris, which is used to treat Hodgkin's lymphoma and other types of cancer. Under the terms of the deal, Pfizer will pay $229 a share in cash for Seagen, which represents a premium of around 50% to the company's closing price on the day the deal was announced. The acquisition is expected to be completed by the end of the year, subject to regulatory approval.
The Seagen acquisition will help Pfizer reach its goal of generating $25 billion in additional revenue by 2030 through business development such as deal-making, Pfizer executives said. Seagen, which expects $2.2 billion in revenue this year, could bring Pfizer more than $10 billion in revenue by 2030 if the biotech succeeds in broadening the application of its drugs to more kinds of tumors, Pfizer executives said.
The acquisition of Seagen is part of Pfizer's strategy to expand its presence in the oncology market and develop innovative treatments for cancer patients. The company has been investing heavily in research and development in recent years, and the acquisition of Seagen will give it access to a range of cutting-edge cancer treatments that have the potential to transform the way cancer is treated.
The acquisition of Seagen by Pfizer is a significant development in the pharmaceutical industry, and it is likely to have a major impact on the future of cancer treatment. The acquisition of Seagen by Pfizer is expected to create significant synergies between the two companies.
Pfizer has a strong global presence and extensive resources, which will enable Seagen's drugs to be developed and marketed on a much larger scale. This will allow more patients to benefit from these innovative treatments and could have a major impact on the overall treatment of cancer. The deal is also a significant boost for Seagen, which has been a pioneer in the development of innovative cancer treatments.
The acquisition of Seagen by Pfizer is a significant development in the pharmaceutical industry that has a major impact on the treatment of cancer and will provide access to the resources and expertise of a global pharmaceutical company, which will enable it to accelerate the development of its pipeline of drugs and bring them to market more quickly.