Pfizer has acquired cancer therapy developer Seagen for $43B.
Pfizer's CEO stated that the acquisition would help Pfizer scale cancer therapies.
- Pfizer
aims to use the acquisition to combine Seagen's clinical trial pipeline
progress and its own protein engineering capabilities to create
innovative therapies.
- Albert Fourla, Pfizer's CEO, said that
mRNA is one of the most efficient technologies to cure cancer and that
this acquisition allows it to scale the technology to new levels.
- Pfizer will pay $229 per share, a 32.7% premium on Seagen's share price last week.
- Seagen has four of the total 12 FDA-approved ADC therapies.
- The transaction is expected to be completed by Q4 2023-Q1 2024.
