Pfizer Pays $43bn For Seagen With Goal Of Rapidly, Globally Advancing ADCs
Speedy COVID-19 Strategies Will Be Applied In Cancer R&D
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.
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The two drug developers announced a collaboration to develop and commercialize multiple cancer programs. Nurix will receive $60m up front.
Results of the HER2CLIMB-02 study supported Tukysa combinations with antibody-drug conjugates. However, treatment discontinuations drew caution.
If COVID-19 product sales don’t meet assumptions this fall, the company said it will consider a cost reduction program to better align costs with future revenue projections.