Pfizer acquires cancer drug maker Seagen

US drugmaker Pfizer announced that it has acquired Seagen for approximately $43 billion in a bid to expand its cancer treatment portfolio Pfizer Inc has acquired cancer drugmaker Seagen Inc for approximately $43 billion. Pfizer CEO Albert Bourla said in a statement on the subject that while the Seagen deal is smaller than some of Pfizer’s past mega deals, it is a good offer for an expanded platform in oncology, which will be the industry’s largest growth market. Pfizer acquired Seagen for $229 per share in cash, a 32.7 percent premium to Seagen’s shares closing on Friday. The deal, which is the company’s largest acquisition since Pfizer acquired Wyeth for $67 billion in 2009, added four approved cancer treatments to its portfolio. The cancer treatments added by Pfizer to its portfolio had sales of approximately $2 billion in 2022. Seagen's shares rose 23 percent in trading before the stock market opened.