Health
Pfizer Revamps Oncology Division With Seagen Purchase Clearance
- Drugmaker moves briskly into lucrative field as pandemic fades
- Restructuring echoes that of cancer drugmaker Astra in 2019
The Pfizer research and manufacturing site in Andover, Massachusetts.
Photographer: Sophie Park/BloombergThis article is for subscribers only.
Pfizer Inc. is revamping its cancer drug business with the impending close of its $43 billion Seagen Inc. takeover, a shift away from its fading Covid business to go deeper into pharma’s most lucrative field.
Pfizer will merge its efforts with those of Seagen in a division that will improve “focus, speed and quality of execution in oncology,” the companies said Tuesday in a statement. The unit will be led by Chris Boshoff, while Pfizer will split the rest of its operations into two divisions, US and international.