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Seagen, With Two Big Pharma Bidders, Nearly Lost Both

 
• By Jessica Merrill

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.

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