Pfizer Is Buying a Cancer Biotech in One of the Biggest Pharma Deals in History

March 13, 2023

(Quartz) – Pharmaceutical giant Pfizer is buying Seagen, a biotech company making a novel type of cancer treatment. Pfizer has agreed to pay $43 billion in cash, or $229 per share, making the transaction one of the largest pharma deals in history. The price includes debt, as the biotech company was not turning a profit. In 2022, the total losses for Seagen were $610 million, despite revenue of $2 billion. (Read More)