Pfizer’s plan to acquire Seagen for $43 billion has cleared the necessary regulatory hurdles, the pharma titan announced Tuesday. The deal will close on Thursday.
Seagen is the largest biotech company in the Seattle area and an anchor for the biopharma industry in the Pacific Northwest. The 3,300-person company announced plans last year to build a 270,000 square foot manufacturing facility north of Seattle.
Seagen launched as Seattle Genetics in 1998. It went public in 2001, pricing its IPO at $7 per share. The terms of the acquisition put Seagen’s value at approximately $229 per share.
