Seagen rises as Pfizer gets approval for $43 bln buyout

Seagen

12/12/2023 12:45

** Shares of Seagen  SGEN.O  rise 3.3% to $228.8 premarket
    ** Pfizer  PFE.N  says it has received all regulatory
approvals to close its $43 bln acquisition of SGEN on Thursday
    ** U.S. FTC sent the cos a request for more information on
the deal in July after PFE agreed to buy SGEN and its cancer
therapies in March
     ** PFE says it has agreed to donate rights of royalties
from sales of cancer drug Bavencio to address concerns from U.S.
FTC
     ** Shares of PFE marginally up in premarket trade
     ** SGEN's stock up 72.4% YTD until last close

 (Reporting by Puyaan Singh)
 ((Puyaan.Singh@thomsonreuters.com;))