Seagen Shares Jump 14% on Pfizer’s Acquisition Announcement 
<p><a href='https://financialmodelingprep.com/financial-summary/SGEN'>Seagen Inc. (Nasdaq:SGEN)</a> shares gained more than 14% on Monday after the company announced it had entered into a definitive merger agreement with Pfizer Inc. (NYSE:PFE), under which Pfizer will acquire Seagen for $229 in cash per Seagen share for a total enterprise value of $43 billion. </p>
<p>According to the analysts at Oppenheimer, the deal a positive for both sides of the proposed transaction and they are encouraged by favorable M&A dynamics which they suspect could lead to additional biopharma deals including (1) drug development synergies enhanced by IRA nuances rewarding full development in parallel upfront as opposed to the staged label expansion in series that previously dominated oncology clinical programs, (2) access to Pfizer's massive medicinal chemistry and machine learning platform to facilitate novel ADC discovery beyond what Seagen could achieve independently, and (3) fully integrated global infrastructure enabling Pfizer to commercialize Seagen’s R&D portfolio no longer required to share across external geographical partners.</p>

Nasdaq:SGEN