Pfizer to Acquire Seagen for Over $30 Billion

Pfizer is looking to further expand its global prominence as the company has now set its eyes on acquiring Seagen Inc. which would further Pfizer’s capabilities within cancer therapies.

Seagen has made a name for itself dealing in cancer treatments and has since then been able to build a valuation of $30 billion. The talks of the potential acquisition are still in its early stages and both companies have stated that there is no guarantee that the deal will follow through, however, Seagen has made it clear that they will be asking for a premium well above $30 billion.

Seagen was nearly acquired by Merck & Co. last year for $40 billion but the deal fell apart in its later stages. Being acquired by Pfizer sparked the interest of Seagen as Pfizer has laid out numerous plans for the company that will allow Seagen’s cancer treatment to reach a much larger patient population.

Pfizer is also looking to expand their capabilities as the company made $100 billion in sales last year but is expecting this number to drop by at least $17 billion due to expiring patents by 2030.

The potential deal is also striking concern within antitrust reviews as Pfizer has been able to secure itself as one of the biggest pharmaceutical companies on the globe. While the deal could be extremely beneficial to both companies there is still much that needs to be done before any serious acquisition is presented.

Source: Wall Street Journal