Pfizer In Early Talks To Buy Cancer-Focused Seagen: WSJ - Pfizer (NYSE:PFE)

Pfizer Inc PFE is in early discussions to purchase biotechnology company Seagen Inc SGEN, The Wall Street Journal reported late on Sunday, citing people familiar with the matter.
The deal would reportedly be valued at more than $30 billion and will help Pfizer bolster its cancer treatments lineup.
Last year, Merck & Co, Inc MRK was reported to be in talks to buy Seagen at a valuation of over $40 billion but that soon fell through over disagreements on the buyout price.
Another possible upside arising from the deal for Pfizer is that the company can offset $17 billion in sales it could lose due to patent expirations by 2030, according to the report.
Seagen reported $2 billion in sales last year. It pioneered a cancer therapy called antibody-drug conjugates which attacks tumors with toxic agents in a guided manner.