US FTC seeks additional info on Pfizer's proposed takeover of Seagen (updated)
14/07/2023 22:46
(Adds details from regulatory filing in paragraphs 2 & 5;
background in paragraphs 3 & 4)
July 14 (Reuters) - The US Federal Trade Commission
(FTC) has sought additional information and documentary material
related to Pfizer's PFE.N proposed acquisition of Seagen Inc
SGEN.O , 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's AMGN.O $27.8 billion deal to buy Horizon Therapeutics
HZNP.O 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.
(Reporting by Khushi Mandowara in Bengaluru; Editing by
Shailesh Kuber)
((Khushi.Mandowara@thomsonreuters.com;))