Pfizer Agrees to Buy Seagen for $43 Billion

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Pfizer has been looking for acquisitions to help it offset an aging drug lineup. Photo: Bess Adler/Bloomberg News

Pfizer Inc. has agreed to pay $43 billion for biotech Seagen Inc. and its pioneering class of targeted cancer drugs.

Under the terms, Pfizer would pay $229 a share in cash, the drugmaker said Monday. The companies expect the deal, which includes debt, to close late this year or early next year.

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