Pfizer in talks to buy Seagen for more than $30bln

By Sama Mousa On Feb 27, 2023

A Pfizer Inc. logo sits on a sign outside the company's research center in Cambridge, U.K., Photographer: Ratcliffe/Bloomberg

U.S. pharmaceutical giant Pfizer Inc. is in early talks to buy drug making company Seagen Inc. and it has cited people familiar with the deal, according to the Wall Street Journal (WSJ) published on Sunday.

Seagen has a market value of around 30 billion dollars and is expected to be sold for more than that, while the talks are still in primary stages.

Pfizer is yet to comment on the report, while Seagen agreed to give Reuters a comment, but not immediately.

WSJ added that Seagen has had talks for sale last year, with a plan to be sold to Merck, which had a value of more than 40 billion dollars. However, both companies did not reach an agreement.