(News Bulletin 247) – Pfizer and Seagen today announced that they have entered into a definitive merger agreement under which Pfizer will acquire Seagen.

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This biotechnology company, which discovers, develops and markets anti-cancer drugs, will be acquired on the basis of a price of 229 dollars per share in cash, or a total enterprise value of 43 billion dollars.

The boards of directors of both companies have unanimously approved the transaction.

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“Oncology remains the primary growth engine for global medicine, and this acquisition will strengthen Pfizer’s position and help achieve Pfizer’s short- and long-term financial goals,” commented Dr. Albert Bourla, CEO. from Pfizer.

Seagen expects to generate approximately $2.2 billion in revenue in 2023, a 12% year-over-year growth, from its four online drugs, royalties, and collaboration and licensing agreements.

Pfizer estimates that Seagen could contribute more than $10 billion in risk-adjusted revenue by 2030, providing significant potential growth beyond 2030.

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