Up­dat­ed: Pfiz­er to buy Seagen for $43B, end­ing long-run­ning M&A saga for biotech

Pfiz­er will buy can­cer drug­mak­er Seagen for $43 bil­lion in one of the in­dus­try’s biggest deals in years.

The deal, for $229 a share, ends a long-run­ning dra­ma. Pfiz­er ap­pears to have won by be­ing will­ing to pay up: In Ju­ly, Mer­ck was re­port­ed to be in talks for a deal at or over $40 bil­lion that fell apart over price. In Feb­ru­ary, Pfiz­er was re­port­ed­ly in talks with Seagen for more than $30 bil­lion.

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