US FTC seeks additional info on Pfizer's proposed takeover of Seagen

THE US Federal Trade Commission (FTC) has sought additional information and documentary material related to Pfizer’s proposed acquisition of Seagen Inc , Seagen said on Friday (Jul 14).

The antitrust agency sent the requests separately to both the companies, a regulatory filing said.

Pfizer struck a US$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 US$27.8 billion deal to buy Horizon Therapeutics 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. REUTERS