Recently, Pfizer announced that it would buy Seagen for $229 a share in cash, for a total price of about $43 billion.
According to the company’s website, Seagen currently has three ADC drugs on the market—ADCETRIS® (brentuximab vedotin), PADCEV® (enfortumab vedotin) and TIVDAK® (tisotumab vedotin). In 2022, the total revenue was US $2 billion, and the net sales of the products increased by 23% to US $1.7 billion over the same period last year, of which three ADC drugs contributed US $839 million (+ 19% Peregris), US $451 million (+ 33% de PADCEV), and US $63 million (+ 923% TIVDAK), respectively.
Pfizer’s total revenue in 2022 reached an all-time high of US $100.33 billion (+ 23%), making it the first pharmaceutical company in the world with annual revenue of more than 100 billion US dollars. Pfizer currently has two ADC products on the market, namely Gituzhu monoclonal antibody against Ozomixin and Ogaituzhu monoclonal antibody developed in cooperation with Celltech. Gituzumab is the first approved ADC drug in the world by coupling CD33 McAb with alkyne antibiotics, while Ogaituzumab is formed by coupling CD22 McAb with the cytotoxic agent calicheamicin, with sales of US $219 million (+ 14%) in 2022. Most of the ADC products under development in the Pfizer pipeline are in the I/II or preclinical stages.
For Pfizer, the success of the acquisition will not only enrich its product pipeline but also give it a place in the ADC field.