Pfizer acquires Seagen for $229 per Seagen share

CAR-T Digest - August 2020

13 Mar 2023: Pfizer acquires Seagen

Pfizer will purchase Seagen for $229 per Seagen share in cash, for a total transaction value of about $43 billion; expected to close by year-end in 2023 or the beginning of 2024.
- Pfizer will finance $31 billion through new, long-term debt; the remaining amount will be covered by a combination of short-term financing and available cash
- Pfizer believes Seagen will contribute more than $10 billion in risk-adjusted revenues in 2030
Segan portfolio includes 4 approved medicines in cancer including 3 ADCs: ADCETRIS® (brentuximab vedotin), PADCEV® (enfortumab vedotin), and TIVDAK® (tisotumab vedotin)
- By acquiring Seagen, Pfizer will be able to expand its ADC technology and develop next-generation biologics by utilizing its expertise in medicinal chemistry and protein engineering
“…..Oncology continues to be the largest growth driver in global medicine, and this acquisition will enhance Pfizer’s position in this important space and contribute meaningfully to the achievement of Pfizer’s near- and long-term financial goals” said Dr. Albert Bourla, Chairman and CEO of Pfizer
After the AbbVie-Allergan merger of $63 billion in June 2019, this will be the biggest acquisition in the biopharma industry