PFE - BULLISH SCENARIOPfizer (NYSE:PFE) gained EU antitrust approval for its $43 billion acquisition of Seagen, a cancer drug maker. This acquisition, announced in March, is Pfizer's largest recent purchase, fueled by the financial success of its COVID-19 vaccines and treatments. The European Commission found no significant competition or pricing concerns in the 27-country European Union, stating that the merger doesn't raise competition issues.
Seagen, based in Washington, specializes in antibody-drug conjugates designed to selectively destroy cancer cells, sparing healthy ones.
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