Pfizer and Seagen announced today that they entered into an agreement under which Pfizer acquires Seagen for $43 billion.
The price of the acquisition comes to $229 in cash per Seagen share, totaling $43 billion. Both companies’ boards unanimously approved the transaction.
Seagen develops antibody-drug conjugate (ADC) technology. Four of the 12 total FDA-approved and marketed ADCs use its technology industry-wide, according to a news release.
“Pfizer is deploying its financial resources to advance the battle against cancer, a leading cause of death worldwide with a significant impact on public health,” said Dr. Albert Bourla, Pfizer chair and CEO. “Together, Pfizer and Seagen seek to accelerate the next generation of cancer breakthroughs and bring new solutions to patients by combining the power of Seagen’s antibody-drug conjugate (ADC) technology with the scale and strength of Pfizer’s capabilities and expertise. Oncology continues to be the large…