Pfizer has announced its $43 billion acquisition of Seagen, a biotech drug developer specialising in antibody-drug conjugate technology for cancer treatments. Seagen has four treatments on the market, including Adcetris, a top seller for lymph system cancers that generated $839m in sales last year, a 19% increase over 2020. Seagen has a pipeline of drugs under development that includes potential treatments for a form of lung cancer and advanced breast cancer. Pfizer’s acquisition of the Bothell, Washington-based company aims to expand Pfizer’s presence in the cancer treatment category, which brought in $12 billion in revenue for the drugmaker last year. The deal is expected to be completed in late 2023 or early 2024.

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