By Colin Kellaher

Pfizer has won all regulatory approvals for its $43 billion acquisition of biotech cancer specialist Seagen and expects to seal the deal on Thursday.

New York drugmaker Pfizer on Tuesday said the U.S. antitrust waiting period for the deal has expired, and that it has agreed to irrevocably donate the rights of royalties from U.S. sales of the cancer drug Bavencio to the American Association for Cancer Research to address concerns raised by the Federal Trade Commission.

Pfizer in March agreed to pay $229 a share in cash for Seagen, but the deal drew extra scrutiny from antitrust regulators, including requests in July by the FTC for additional information.

Pfizer said it plans to hold a conference call on Wednesday to discuss the Seagen acquisition and provide full-year 2024 financial guidance.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

December 12, 2023 07:28 ET (12:28 GMT)

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