Pfizer forking out $43 billion to buy Seagen

13 March 2023

Given that early merger talks between Pfizer (NYSE: PFE) and Seagen (Nasdaq: SGEN) had already been reported, the confirmation of the deal was not a surprise, but the price was a great deal more than the around $30 billion previously rumored.

Pfizer will acquire the biotech company that discovers, develops and commercializes transformative cancer medicines for $229 in cash per Seagen share for a total enterprise value of $43 billion. Seagen’s shares were up more than 19% at $205.90 in pre-market activity.

This is even more than the suggested $40 billion acquisition by Merck & Co (NYSE: MRK) that failed to materialize. It also marks the biggest M&A biopharma deal in several years. The boards of directors of both companies have unanimously approved the transaction.

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