Seagen holds a desirable portfolio of “pioneering class of targeted cancer drugs” designed for use when other cancer treatments fail. Pfizer’s president appears desperately focused on cancer these days, for some reason:
“Oncology continues to be the largest growth driver in global medicine, and this acquisition will enhance Pfizer’s position in this important space and contribute meaningfully to the achievement of Pfizer’s near- and long-term financial goals,” Chief Executive Albert Bourla said.
In other words, cancer-related treatments will “contribute meaningfully” to Pfizer’s NEAR-TERM financial goals. I wonder what those could near-term concerns might be?