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Pfizer to buy Seagan for $43 billion
The largest pharmaceutical company in the United States announced the acquisition of Seagen, a company that develops innovative oncology treatments.
American pharmaceutical giant Pfizer on Monday, March 13, announced the acquisition of Seagen for $43 billion. The latter specializes in the development of innovative methods of cancer treatment. This is stated in the press release of the pharmaceutical company, published on its website.
Pfizer will buy Seagan for $229 per Seagen share in cash for a total enterprise value of $43 billion.
Approval from Seagen shareholders and regulators is currently pending.
The companies expect to close the deal in late 2023/early 2024.
In February, The Wall Street Journal reported that Seagen had a market value of $30 billion.
Pfizer is the world’s largest pharmaceutical company. According to The Wall Street Journal, it has earned about $22.7 billion from sales of its coronavirus vaccines and other drugs alone.
Recall, Alphabet Inc, the parent company of Google, announced the reduction of about 12 thousand jobs, or 6% of its employees.
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