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Pfizer’s $43 billion bid for Seagen aims to broaden company’s cancer portfolio

Last Updated: March 13, 2023 at 2:36 p.m. ET First Published: March 13, 2023 at 7:03 a.m. ET Pfizer can do for cancer what it has done for COVID-19 ‘by using another novel technology,’ CEO Albert Bourla says Pfizer plans to acquire Seagen, which develops cancer treatments. (Photo by Spencer Platt/Getty Images Getty Images Pfizer’s
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pfizer’s-$43-billion-bid-for-seagen-aims-to-broaden-company’s-cancer-portfolio

Pfizer can do for cancer what it has done for COVID-19 ‘by using another novel technology,’ CEO Albert Bourla says

Pfizer plans to acquire Seagen, which develops cancer treatments. (Photo by Spencer Platt/Getty Images

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Pfizer’s PFE proposed acquisition of Seagen SGEN, which develops cancer treatments, for $43 billion indicates that the legacy drugmaker is focused on shoring up its oncology business.

Pfizer said Monday it plans to pay $229 per share in cash for Seagen, whose stock soared more than 15% in trading on Monday afternoon. Pfizer’s shares gained about 1.7%.

“[Seagen’s]…

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