Pfizer Inc.’s $43bn acquisition of Seagen Inc. has cleared regulatory obstacles and is on track to close on 14 December, leading the company to update investors on its financial outlook and early integration plans. The company had surprises on both fronts: a 2024 financial forecast that underwhelmed investors and a reorganization that will result in the departure of chief commercial officer and biopharmaceuticals president Angela Hwang.
Key Takeaways
- Pfizer updated investors on its 2024 financial outlook, including Seagen.
- The company also announced early integration plans, including a new oncology business unit, headed by Chris Boshoff.
- The reorganization that will result in the departure of chief commercial officer and biopharmaceuticals president Angela Hwang
Hwang, who has worked for Pfizer for 27 years and was integral to the launch of Pfizer’s COVID-19 vaccine Comirnaty and antiviral Paxlovid, will leave the company. She will be succeeded by chief business innovation officer Aamir Malik, who joined the company from McKinsey in 2021 and will become chief US commercial officer, overseeing all US and global operations
