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Pfizer acquires cancer biotech Seagen for US$43bn
The boards of directors of both companies have unanimously approved the transaction

Pfizer has agreed to acquire biotech company Seagen for a total enterprise value of US$43bn to accelerate innovation in cancer care.
The pharma giant and the cancer innovator Seagen have entered into a definitive merger agreement under which Pfizer will spend US$229 in cash per Seagen share for a total enterprise value of US$43bn.
The boards of directors of both companies have unanimously approved the transaction.
“Pfizer is deploying its financial resources to advance the battle against cancer, a leading cause of death worldwide with a significant impact on public health,” said Dr Albert Bourla, Pfizer chairman and CEO.
“Together, Pfizer and Seagen seek to accelerate the next generation of cancer breakthroughs and bring new solutions to patients by combining the power of Seagen’s antibody-drug conjugate (ADC) technology with the scale and strength of Pfizer’s capabilities and expertise.”
He added: “Oncology continues to be the largest growth driver in global medicine, and this acquisition will enhance Pfizer’s position in this important space and contribute meaningfully to the achievement of Pfizer’s near- and long-term financial goals.”
Seagen expects to generate approximately US$2.2bn of revenue in 2023, representing 12 per cent year-over-year growth, from its four in-line medicines, royalties and collaboration and license agreements.
When combining the expected strong growth trajectories for these medicines with candidates that could emerge from Seagen’s pipeline, subject to clinical trial and regulatory success, Pfizer believes the biotech could contribute more than US$10bn in risk-adjusted revenues in 2030, with potential significant growth beyond 2030.
Seagen is a pioneer in ADC technology, with four of the twelve total FDA-approved and marketed ADCs using its technology industry-wide.
ADCs are a transformative modality that is emerging as a powerful tool across a broad range of cancers designed to preferentially kill cancer cells and limit off-target toxicities.
Its portfolio also includes TIVDAK (tisotumab vedotin), a prescription medicine indicated for the treatment of adult patients with recurrent or metastatic cervical cancer with disease progression on or after chemotherapy.
Worldwide, cervical cancer is the fourth most frequent cancer in women with an estimated 604,000 new cases in 2020.
David Epstein, Seagen CEO, said: “Pfizer shares our steadfast commitment to patients, and this combination is a testament to the passion, dedication and talent of the Seagen team to achieve our mission to discover, develop, and commercialise transformative cancer medicines that make a meaningful difference in people’s lives.
“The proposed combination with Pfizer is the right next step for Seagen to further its strategy, and this compelling transaction will deliver significant and immediate value to our stockholders and provide new opportunities for our colleagues as part of a larger science-driven, patient-centric, global company.”
Pfizer Oncology has a portfolio of 24 approved cancer medicines that generated US$12.1bn in 2022 revenues, including the best-selling therapies for metastatic breast cancer.
Chris Boshoff, Pfizer chief development officer oncology and rare disease, said: “Over the past decade we’ve taken bold new approaches to translating scientific research into effective medicines for people living with cancer, and we have pioneered several breakthroughs in breast cancer, genitourinary cancer, haematological malignancies and precision medicine.
“The addition of Seagen’s world-leading ADC technology will position us at the forefront of innovative cancer care, and strongly complements our existing portfolio across both solid tumours and haematologic malignancies.”
Pfizer expects to finance the transaction substantially through US$31bn of new, long-term debt, and the balance from a combination of short-term financing and existing cash.
The companies expect to complete the transaction in late 2023 or early 2024, subject to fulfilment of customary closing conditions, including approval of Seagen’s stockholders and receipt of required regulatory approvals.
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Endometriosis documentary profiles stars including Marilyn Monroe and Amy Schumer

A non-profit has launched an endometriosis documentary featuring Amy Schumer and Marilyn Monroe as it pushes for changes in how the condition is treated and understood.
The Endometriosis Collective has launched to change how endometriosis is researched, treated and understood, starting with a documentary featuring stories from people including Amy Schumer and Marilyn Monroe.
The feature-length documentary, “End of the Cycle”, will premiere in New York on Tuesday, and The Endometriosis Collective is making the film free to stream online.
Schumer, a comedian, writer and actor, has previously spoken of how endometriosis left her “on the floor in pain, vomiting from the pain, the pain that nobody can see.”
Schumer is one of several celebrities featured in the documentary. Other contributors include dancer Julianne Hough, Olympic medallist Brittany Brown and actors Janel Parrish and Folake Olowofoyeku.
The Endometriosis Collective timed the documentary premiere to coincide with the 100th anniversary of Marilyn Monroe’s birth.
Monroe, who died in 1962, starred in films such as “Some Like It Hot” and “Gentlemen Prefer Blondes.”
According to a biography published in 1985, Monroe’s endometriosis was so severe that it destroyed her marriages, her wish for children, her career and ultimately her life.
The Endometriosis Collective said the documentary shares newly uncovered information about Monroe’s experience with endometriosis.
The non-profit said the information connects Monroe’s story to the experiences of women across generations, highlighting how far awareness, research and care still have to go.
A representative of the Marilyn Monroe Estate said: “By sharing this part of her story through ‘End of the Cycle,’ we hope to honour her legacy in a way that brings visibility to endometriosis, encourages more open dialogue and helps inspire the research needed to create change.”
As part of the premiere, The Endometriosis Collective is holding a panel discussion.
Schumer, Brown and Olowofoyeku, the documentary’s co-directors Sammy Jaye and Soraya Simi, and medical experts are due to be part of the premiere.
AbbVie’s Orilissa and Sumitomo Pharma’s Myfembree are among the approved drugs for endometriosis pain.
Hough, one of the participants in the documentary, starred in an Orilissa campaign in 2017.
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