FTC Requests Further Information on Potential Pfizer Takeover of Seagen

The Federal Trade Commission (FTC) has asked for more information on Pfizer’s proposed $43 billion takeover of Seagan, a biotechnology company. The request, which comes after the agency’s shutdown of Amgen’s attempt to purchase Horizon Therapeutics for $27.8 billion, has made investors skittish at the potential outcome.

Despite the request, Seagan continues to expect its merger with Pfizer will be completed in late 2023 or early 2024.

Reference: US FTC Seeks Additional Info on Pfizer's Proposed Takeover of Seagen. Reuters. July 14, 2023. Accessed July 17, 2023. https://www.reuters.com/markets/deals/us-ftc-seeks-additional-info-pfizers-proposed-takeover-seagen-2023-07-14/