Pfizer: $43bn to acquire Seagen
(CercleFinance.com) - Pfizer and Seagen today announced that they have entered into a definitive merger agreement under which Pfizer will acquire Seagen.
The biotech company, which discovers, develops and markets cancer drugs, will be acquired for $229 per share in cash, representing a total enterprise value of $43bn.
Both companies'boards have unanimously approved the transaction.
Oncology remains the key growth driver in global medicine, and this acquisition will strengthen Pfizer's position and contribute to Pfizer's short- and long-term financial goals,it said.
Seagen expects to generate approximately $2.2bn in revenue in 2023, growing 12% p.a., from its four online medicines, royalties and collaboration and licensing agreements.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
The biotech company, which discovers, develops and markets cancer drugs, will be acquired for $229 per share in cash, representing a total enterprise value of $43bn.
Both companies'boards have unanimously approved the transaction.
Oncology remains the key growth driver in global medicine, and this acquisition will strengthen Pfizer's position and contribute to Pfizer's short- and long-term financial goals,it said.
Seagen expects to generate approximately $2.2bn in revenue in 2023, growing 12% p.a., from its four online medicines, royalties and collaboration and licensing agreements.
Copyright (c) 2023 CercleFinance.com. All rights reserved.