In the top March M&A by deal value, Pfizer entered into a definitive agreement to acquire public cancer-focused company Seagen for $229 in cash (a 29% premium to the 10-day average of $177.35, and a 50% premium to the 10-day average before speculation of a proposed merger began circulating on February 27), for a total enterprise value of $43bn. The acquisition allows Pfizer to enhance its leading position in the oncology space. Seagen uses its antibody-drug conjugate technology to harness the targeting power of antibodies to deliver small molecule drugs to the tumor. This innovative approach to therapy offers a powerful tool across a broad range of cancers designed to preferentially kill cancer cells and limit off-target toxicities. Financing reached $5.9bn in biopharma, $264m in device, and $198m in diagnostics.
Top Alliances In March 2023
