Health
Pfizer to Pay $43 Billion for Seagen, Set Post-Covid Course
- Seagen is a leader in developing cancer-fighting ADC drugs
- Pfizer seeks to boost pipeline after Covid vaccine windfall
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Pfizer Inc. is purchasing cancer-drug maker Seagen Inc. for an enterprise value of $43 billion, using the biggest deal of the year to set its course out of the pandemic and back into mainstream pharma.
Pfizer will pay $229 a share in cash for Bothell, Washington-based Seagen, according to a statement Monday, about a third more than the drugmaker’s closing share price Friday. It expects the deal to close late this year or early 2024.