Pfizer to acquire Seagen for $43 billion

Pfizer, the pharmaceutical giant, has entered a merger agreement with Seagan Inc., a global biotechnology company, for $43 billion or $229 per share.
Seagan discovers, develops and commercializes cancer medicines. The companies expect to complete the merger in late 2023 or early 2024.
Seagen expects to generate approximately $2.2 billion in revenue this year from its four in-line medicines, royalties and collaboration and license agreements.
Pfizer believes Seagen could contribute more than $10 billion in risk-adjusted revenues in 2030, with potential significant growth beyond 2030. Pfizer expects to finance the transaction substantially through $31 billion of new, long-term debt, and the balance from a combination of short-term financing and existing cash.
Pfizer expects the acquisition to be neutral to slightly accretive to adjusted earnings per share in the third to fourth full year post close. Pfizer expects to achieve nearly $1 billion in cost efficiencies in the third full year after the completion of the deal.