Investors Cool On Seagen As Merck & Co Merger Hopes Fade
Seagen Suggests Focus On Own M&A
After more than three months of speculation about a possible Merck & Co buyout, the chatter has gone quiet – but the deal might not be dead yet.
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Pfizer expects its acquisition of Seagen to result in $10bn in new revenue by 2030 as the big pharma applies its resources to the target company’s pioneering antibody-drug conjugate technology.
A pair of new PwC reports project a more robust M&A environment in 2023, but questions about the impact of the Inflation Reduction Act are already affecting biopharma business development strategies.
Former Novartis executive and venture capitalist David Epstein will step in to lead Seagen after its founder resigned in a scandal and amid M&A speculation.