(News Bulletin 247) – Pfizer is said to be in negotiations for the takeover of Seagen for an amount estimated at more than $30 billion according to the WSJ. Discussions are at an early stage according to the WSJ. Merck, which was also in negotiations, had offered a price of nearly $40 billion for the acquisition of Seagen. This offer was refused
‘The amount negotiated should probably exceed $40 billion (+33% premium) to convince Seagen even if certain elements could potentially be taken into account by Pfizer’ indicates Invest Securities.
‘ Seagen lost its arbitration case against Daiichi Sankyo for the ADC technology on which the two groups had been collaborating since 2008. This decision ended an attempt by Seagen to collect lucrative royalties on the sale of drugs resulting from the collaboration ‘ points out analysis office.
‘ In parallel, at the clinical level, the FDA has granted priority review to Padcev’s application for accelerated approval for the first-line treatment of metastatic bladder cancer, in combination with Merck’s Keytruda (pembrolizumab), in patients who are not eligible for cisplatin, with a target action date (PDUFA date) of April 21,” Invest Securities added.
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