Mon, Jun 13th, 2022 - 9:31am
March 14, 2023 - 6:00pm | By Kyle Cornell
(New York, NY) -- Pfizer is hoping to boost research and access to new cancer treatments with its latest multi-billion-dollar purchase.
The pharmaceutical giant is spending roughly 43-billion dollars to buy Seagen Inc., based in Washington state.
Pfizer then plans to let the biotech drug developer continue innovating, but now with more resources than it would have alone.
Seagen specializes in anti-body drug conjugate ,or ADC technology, which are lab-made proteins that look for cancer cells and deliver a cancer-killing drug.
A Pfizer spokesperson says cancer treatments are a priority for the company.
