Pfizer acquires Seagen for $43 billion

By Associated Press

Mar 15, 2023 12:33 am

PFIZER is spending about $43 billion to reach deeper into new cancer treatments that target tumor cells while sparing surrounding healthy tissue.

The pharmaceutical giant said Monday it will pay $229 in cash for each share of Seagen Inc. Pfizer then plans to let the biotech drug developer 'continue innovating,' except with more resources than it would have alone, Pfizer Chairman and Chief Executive Officer Albert Bourla told analysts.

SEEKING THE CURE A man walks by Pfizer headquarters on Feb. 5, 2021 in New York. Pfizer will spend about $43 billion to buy Seagen and broaden its reach into cancer treatments, the pharmaceutical giant said on Monday, March 13, 2023. AP PHOTO

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