BRUSSELS: The US pharmaceutical giant Pfizer has been approved by the European Commission to take over the US cancer drug maker Seagen.
The EU’s executive arm concluded that there were no competition concerns and cleared the $43 billion acquisition without conditions, reported dpa news.
In March, Pfizer announced its intention to pay US$229 per share for the cancer specialist. Pfizer said at the time it was confident the company could contribute more than US$10 billion in revenue by 2030, with significant upside potential thereafter thanks to the products Seagen has in the pipeline.
The European Commission found that the merger would not have a negative impact on prices.- BERNAMA-DPA
