Summary: Pfizer has received unconditional approval from the EU for its acquisition of Seagen, valued at $43 billion.
Pfizer, the US pharmaceutical giant, has obtained unrestricted antitrust approval from the European Union for its proposed purchase of cancer drug maker Seagen. The $43 billion deal, announced in March, marks Pfizer’s largest acquisition and is made possible by the company’s substantial cash windfall from its COVID-19 vaccine and treatment. The European Commission has determined that the acquisition will not adversely affect competition or pricing in the EU. Seagen, based in Washington, is known for its innovative antibody-drug conjugates, which target cancer cells while sparing healthy ones.
Tags: Pfizer, EU, antitrust approval, acquisition, Seagen, cancer drug, competition, COVID-19 vaccine, treatment, antibody-drug conjugates