Pfizer buys Bothell-based Seagen for $43B

In a $43 billion deal, Pfizer will acquire Bothell-based biotech Seagen, expected to be completed in late 2023 or early 2024.

Pfizer intends to maintain Seagen’s sites in the Seattle area and in south San Francisco and aid in the cancer developer’s innovation. Seagen produces top-target treatments that are a priority for Pfizer making this a key move for the company.

Seattle-area biotech experts like Marc Cummings believe the acquisition “validates Seattle and Washington as a top 10 life science cluster in the country,” and cements the region’s position as a place for pioneering developers of next-generation cancer therapies.

READ THE STORY at The Seattle Times»