The US pharmaceutical company takes over the cancer specialist Seagen for 43 billion dollars.
(Photo: Bloomberg via Getty Images)
Frankfurt The US pharmaceutical company Pfizer is planning one of the largest takeovers in the pharmaceutical industry in years. Pfizer wants to buy the biotech company Seagen for around 43 billion dollars, as the group announced on Monday. Pfizer could thus strengthen its range of cancer drugs.
Seagen shareholders are expected to receive $229 per share — a premium of nearly a third to Friday’s closing price. The boards of directors of both companies have already approved the deal. According to Pfizer, the takeover should be completed by early 2024 at the latest.
Seagen is forecasting sales of $2.2 billion this year. Pfizer said it was confident that the company could contribute more than $10 billion in revenue by 2030, depending on product advancements — with significant upside potential thereafter.
More: Pfizer is reportedly sounding out a billion-dollar deal