Pfizer USD 43 billion bid for Seagen to be decided by EU antitrust regulators

Published On 2023-09-16 10:41 GMT   |   Update On 2023-09-16 10:41 GMT
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Brussels: Pfizer's $43 billion bid for Seagen will be decided by EU antitrust regulators by Oct. 19, a regulatory filing showed on Friday.

U.S. pharmaceutical company Pfizer announced the deal, its biggest, in March for Washington-based Seagen, a pioneer of antibody-drug conjugates, which work like "guided missiles" designed to destroy cancer while sparing healthy cells.

Read also: Pfizer, Valneva report positive pediatric, adolescent phase 2 booster results for Lyme disease vaccine

The European Commission can either clear the deal after a preliminary review or it can start a four-month long investigation if it has serious concerns.

Pfizer sought EU antitrust approval on Thursday.

Read also: Pfizer, BioNTech gets USFDA nod for 2023-2024 COVID vaccine



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Article Source : Reuters

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