Pfizer to buy Seagen for $43B to enhance reach of cancer drugs
CBSN
Pfizer will spend $43 billion to buy Seagen and deepen its reach into treating cancer.
The pharmaceutical giant said Monday that it will pay $229 in cash for each Seagen share.
Bothell, Washington-based Seagen Inc. is a biotech drug developer that specializes in antibody-drug conjugate, or ADC, technology. Its key products use lab-made proteins called monoclonal antibodies that seek out cancer cells to help deliver a cancer-killing drug while sparing surrounding healthy tissue.
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