Pfizer gets OK for $43-billion Seagen deal after donating cancer drug rights

Pfizer’s pending acquisition of Seattle-based biotech company Seagen closed on December 14th, according to an announcement from Pfizer. Amid the newly approved deal, Pfizer plans to build out a new oncology department and redesign current company structures.

Chris Boshoff, the leader of Pfizer’s current cancer division, will work under CEO Albert Bourla as the head of the new oncology unit.

Pfizer announced that its commercial division will be split in two, with one team specializing in the U.S. and another focusing on international efforts. Its current chief commercial officer is expected to step down as these developments take place.

Pfizer shared its full-year 2024 guidance plan on December 13th.

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