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EU antitrust regulators set Oct. 19 deadline for Pfizer's Seagen deal

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Oct 09, 2023

EU antitrust regulators set Oct. 19 deadline for Pfizer's Seagen deal

Test tubes are seen in front of Seagen logo in this illustration taken June 27, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing Rights BRUSSELS, Sept 15 (Reuters) - Pfizer's (PFE.N)

Test tubes are seen in front of Seagen logo in this illustration taken June 27, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing Rights

BRUSSELS, Sept 15 (Reuters) - Pfizer's (PFE.N) $43 billion bid for Seagen (SGEN.O) will be decided by EU antitrust regulators by Oct. 19, a regulatory filing showed on Friday.

U.S. pharmaceutical company Pfizer announced the deal, its biggest, in March for Washington-based Seagen, a pioneer of antibody-drug conjugates, which work like "guided missiles" designed to destroy cancer while sparing healthy cells.

The European Commission can either clear the deal after a preliminary review or it can start a four-month long investigation if it has serious concerns.

Pfizer sought EU antitrust approval on Thursday.

Reporting by Foo Yun Chee; editing by Grant McCool

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