US FTC seeks additional info on Pfizer’s proposed takeover of Seagen By Reuters
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© Reuters. FILE PHOTO: The Pfizer logo is pictured on their headquarters building in the Manhattan borough of New York City, New York, U.S., November 9, 2020. REUTERS/Carlo Allegri/File Photo/File Photo
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(Reuters) -The US Federal Trade Commission (FTC) has sought additional information and documentary material related to Pfizer (NYSE:)’s proposed acquisition of Seagen Inc, Seagen said on Friday.
The antitrust agency sent the requests separately to both the companies, a regulatory filing said.
Pfizer struck a $43 billion deal in March to acquire Seagen and its targeted cancer therapies, to counter the fall in COVID-related sales and generic competition for some top-selling drugs.
The recent scrutiny by the antitrust agency to block Amgen (NASDAQ:)’s $27.8 billion deal to buy Horizon Therapeutics (NASDAQ:) has made investors jittery around the Pfizer-Seagen deal as well.
Seagan continues to expect its merger with Pfizer will be completed in late 2023 or early 2024, it said in the filing.
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© Reuters. FILE PHOTO: The Pfizer logo is pictured on their headquarters building in the Manhattan borough of New York City, New York, U.S., November 9, 2020. REUTERS/Carlo Allegri/File Photo/File Photo
2/2
(Reuters) -The US Federal Trade Commission (FTC) has sought additional information and documentary material related to Pfizer (NYSE:)’s proposed acquisition of Seagen Inc, Seagen said on Friday.
The antitrust agency sent the requests separately to both the companies, a regulatory filing said.
Pfizer struck a $43 billion deal in March to acquire Seagen and its targeted cancer therapies, to counter the fall in COVID-related sales and generic competition for some top-selling drugs.
The recent scrutiny by the antitrust agency to block Amgen (NASDAQ:)’s $27.8 billion deal to buy Horizon Therapeutics (NASDAQ:) has made investors jittery around the Pfizer-Seagen deal as well.
Seagan continues to expect its merger with Pfizer will be completed in late 2023 or early 2024, it said in the filing.
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