(CercleFinance.com) – The European Commission has unconditionally approved the proposed acquisition of Seagen by Pfizer, under the EU Merger Regulation. The Commission concluded that the transaction would not raise competition concerns in the European Economic Area.
Seagen specializes in oncology therapies, primarily in antibody-drug conjugates (‘ADCs’). Pfizer’s oncology portfolio consists largely of hormone therapies, immunotherapies and targeted therapies.
In the EEA, the companies’ marketed and under-development products overlap in the treatment of several types of cancer such as breast, bladder, colorectal, cervical and lung cancer, as well as in lymphoma and leukemia. By acquiring Seagen’s ADC technology, Pfizer aims to diversify its portfolio and accelerate the development and commercialization of Seagen’s ADC drugs.
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