The American pharmaceutical giant Pfizer announced this Monday, March 13, that reached an agreement to buy the biotechnology company Seagen, specializing in cancer treatments, for US $ 43,000 million. “Pfizer deploys its financial resources to advance the fight against cancer,” Pfizer CEO Albert Bourla was quoted as saying in a statement.
Seagen, company present in the research, development and commercialization of cancer therapies, is in full growth and expects its billing to increase by 12% in 2023 to US$2,200 million.
The purchase operation was approved by the boards of directors of both groups. However, to be effective, the competition authorities must approve it. Pfizer is proposing $229 in cash per share, or a $43 billion valuation for Seagen.
The pharmaceutical group will finance the transaction by borrowing and resorting to its treasury. It expects to close the purchase in late 2023 or early 2024.
In the last two years, Pfizer it benefited from the sale of its Comirnaty anti-covid vaccine, developed with the German laboratory BioNTech, and its Paxlovid anti-covid pill. In 2022, it had a turnover of US$100 billion and a net profit of S$31 billion.
Seagen has developed specific therapies that target cancer cells with precision to reduce the side effects of medications.
“Oncology continues to be the leading growth driver for medicine worldwide. This acquisition will strengthen Pfizer’s position in this important space and will contribute significantly to the achievement of Pfizer’s short- and long-term financial goals,” he said. Albert Bourla.
Source: Larepublica
Alia is a professional author and journalist, working at 247 news agency. She writes on various topics from economy news to general interest pieces, providing readers with relevant and informative content. With years of experience, she brings a unique perspective and in-depth analysis to her work.
