Pfizer has announced that it intends to buy Seagen, formerly known as Seattle Genetics, for the huge sum of $43 billion. Seagen is pioneer and driving force behind the development of antibody-drug conjugates for the treatment of cancer. In the best of all worlds this acquisition will give Pfizer access to Seagen’s technology and significantly expand the pipeline of Pfizer Oncology, and it will allow Seagen’s team to focus on further research and development backed up by Pfizer’s ability to commercialize and distribute new drugs. Read more about what this acquisition may mean for biotech in the Seattle area.
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