Pfizer to Close $43 Billion Seagen Acquisition This Week
12 Décembre 2023 - 1:43PM
Dow Jones News
By Colin Kellaher
Pfizer has won all regulatory approvals for its $43 billion
acquisition of biotech cancer specialist Seagen and expects to seal
the deal on Thursday.
New York drugmaker Pfizer on Tuesday said the U.S. antitrust
waiting period for the deal has expired, and that it has agreed to
irrevocably donate the rights of royalties from U.S. sales of the
cancer drug Bavencio to the American Association for Cancer
Research to address concerns raised by the Federal Trade
Commission.
Pfizer in March agreed to pay $229 a share in cash for Seagen,
but the deal drew extra scrutiny from antitrust regulators,
including requests in July by the FTC for additional
information.
Pfizer said it plans to hold a conference call on Wednesday to
discuss the Seagen acquisition and provide full-year 2024 financial
guidance.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
December 12, 2023 07:28 ET (12:28 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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