Pfizer acquires Seagen for $43 billion to improve cancer treatments

Pfizer has acquired Seagen, a Washington-based biotechnology company, for approximately $43 billion, in an attempt to expand its reach in cancer treatment. The pharmaceutical company is reported to have paid $229 per share. Seagen is expected to generate a revenue of $2.2 billion in 2023 with 12% year-over-year growth from its four in-line medicines, royalties, and collaboration and license agreements.