Pfizer acquires Seagen and with it Adcetris
Pfizer has agreed to buy Seagen for $43 billion in a blockbuster deal that would unite the pharmaceutical company with a biotechnology company that pioneered a new type of tumor-killing medicine. The acquisition is the largest Pfizer has attempted since its 2009 purchase of Wyeth, and is the most sizable in the drug industry by value since AbbVie’s $63 billion buyout of Allergan in 2019.
Acquiring Seagen gives Pfizer control of the top-selling lymphoma medicine Adcetris as well as a pipeline of cancer treatments that’s yielded three new drug approvals in the past three years. Seagen specializes in a type of cancer therapy known as an antibody-drug conjugate, and has steadily improved on the technology since its founding in 1997.
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