Pfizer in talks to acquire Seagen, mega deal may be possible: Report

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Pharmaceutical giant Pfizer Inc is in talks to acquire Seagen Inc, a biotech company, in a deal that may be worth billions if it comes to fruition, said a report in The Wall Street Journal. The report, citing unnamed sources, said that talks are in initial stages.

Though the developments point to a potential mega deal, it will have to cross several hurdles including a possible antitrust review of the proposal. Seagen has a market value of USD 30 billion.

Last year, Seagen was in negotiations to be acquired by Merck. Had this deal come to fruition, it would have been worth USD 40 billion. 

Pfizer is one of the biggest drug companies in the world. Last year, its sales were worth USD 100 billion. If it acquires Seagen, it will add a class of promising chemical agents to its lineup of cancer treartments. These chemical agents have shown promise in connection with immunitherapies against some cancers.

Pfizer is in a very comfortable financial position with its deep pockets full of cash. It has some USD 22.7 billion from sales of its Covid vaccines, drugs and other products.

Pfizer acquired sickle-cell-drug maker Global Blood Therapeutics Inc last year for more than USD 5 billion. It also acquired the rest of Biohaven Pharmaceutical Holdings Co in a deal worth more than USD 10 billion.

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