
Pfizer’s proposed $43 billion takeover of Seagen Inc. is currently under the microscope of the Federal Trade Commission (FTC). Amidst an industry-wide string of attempted mergers and acquisitions, the FTC has launched an extensive antitrust review of the high-profile deal.
Seagen claimed that both companies have been served a “second request” seeking additional information to fuel the review. Originally, the filing was withdrawn in June, but Pfizer and Seagen then resubmitted it to grant the FTC more time to conduct their initial evaluation.
“We continue to expect that the acquisition of Seagen by Pfizer will be completed in late 2023 or early 2024,” said Seagen in a regulatory filing, reported Reuters.
Yet even this optimistic prediction has been clouded by the scrutiny of the FTC blocking Amgen’s attempted purchase of Horizon Therapeutics for $27.8 billion, leaving investors on edge.
Read more: French Government Criticizes Appointment Of US Economist As Chief Antitrust Advisor
Commenting on the acquisition, Alicia Dubuc of the FTC said: “We recognize the need to examine with particular scrutiny proposed mergers that may result in lessening of competition and higher prices for consumers. We remain diligent in protecting the American public from these potential harms.”
The Pfizer-Seagen deal is being viewed as an indicator of the Federal Trade Commision’s attitude towards mergers and acquisitions amongst biopharmaceutical firms. As investors anxiously await the results of the review, it will likely set a long-term trend across the industry.
Source: Reuters
Featured News
UFC Reaches $375 Million Settlement in Antitrust Case
Feb 6, 2025 by
CPI
Brazilian Architecture Council Convicted of Antitrust Violations
Feb 6, 2025 by
CPI
Bipartisan Bill Seeks to Ban Chinese AI Software from US Government Devices
Feb 6, 2025 by
CPI
Senators Call for Investigation into RealPage Algorithm’s Impact on Military Housing Costs
Feb 6, 2025 by
CPI
ECB Seeks Faster Digital Euro Legislation Amid US Stablecoin Push
Feb 6, 2025 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – International Criminal Enforcement
Jan 23, 2025 by
CPI
The Antitrust Division’s Recent Work to Combat International Cartels
Jan 23, 2025 by
Emma Burnham & Benjamin Christenson
Information Sharing: The New Frontier of U.S. Antitrust Enforcement
Jan 23, 2025 by
Brian P. Quinn, Casey Kovarik & Michael Tubach
The Key Role of Guidelines on Exchanges of Information Among Competitors and the Divergent Transatlantic Paths
Jan 23, 2025 by
Rosa Abrantes-Metz & Albert Metz
Leniency, Whistleblowers, and Compliance
Jan 23, 2025 by
Richard Powers, Tara O’Malley & Cory Gordon