Seagen, With Two Big Pharma Bidders, Nearly Lost Both

Seagen was being pursued by another prospective big pharma buyer when it engaged Pfizer in merger negotiations, but both bidders walked away in late summer 2022; Pfizer returned in January.

love triangle
Pfizer ultimately squeezed out other rivals for Seagen • Source: Shutterstock

Pfizer Inc. finalized a $43bn deal to buy Seagen Inc.  after the antibody-drug conjugate (ADC) specialist approached it, squeezing out a rival that had pursued the company since 2019. The company walked away from the deal altogether at one point but returned to the negotiation table in 2023.

Two companies seriously pursued Seagen in the summer of 2022 and both ended merger negotiations, according to a filing with...

Scrip Podcast

Keep up with the top pharma business news of the week. On the go.

Scrip brings you a weekly bulletin of top picks.

More from Strategy

More from Business

  • How A New Healthcare Dialogue Is Driving Market Access In Mexico

    Companies stand a better chance of securing public reimbursement in Mexico for innovative medicines if they understand changing approaches to healthcare. The shift means the emergence of managed entry agreements and a focus on economic impact, explains AMIIF, Mexico's research-based pharmaceutical industry association.

  • How Novartis Is Elevating CVD Outcomes, Driving ‘Personalized Access’ In APMA

    Novartis’s APMA chief outlines the company’s tailored approach to deliver long-term outcomes, novel access solutions via innovative financing options and shape the CVD disease ecosystem in the extraordinarily diverse region. Partnering to build AI infrastructure is another key prong.

  • India Rare Diseases: Court Shows Path For Policy Action, Funding, Price Issues-- Test-2

    A court order encompassing funding, drug pricing, clinical trials and overall policy implementation aspects is expected to bring about a paradigm shift in the treatment of rare diseases in India. Sarepta, Roche and Sanofi are among the key players that have been part of pricing discussions.