Pfizer Inc. has agreed to pay $43 billion for biotech Seagen Inc. SGEN 16.29%increase; green up pointing triangle and its pioneering class of targeted cancer drugs.
Under the terms, Pfizer would pay $229 a share in cash, the drugmaker said Monday. The companies expect the deal to close late this year or early next year.
The $43 billion deal total includes debt, a Pfizer spokeswoman said. It is likely to face scrutiny from antitrust regulators, who have stepped up their reviews of healthcare and other deals.
