Pfizer receives unconditional approval for Seagen acquisition from EU

The European Commission has unconditionally approved the proposed acquisition of Seagen (SGEN) by Pfizer (PFE), under the EU Merger Regulation. The Commission concluded that the transaction would not raise competition concerns in the European Economic Area. Moreover, the Commission found that the transaction was unlikely to have negative impact on prices, given that the parties’ offerings are differentiated and complementary and that the markets for the treatment of the various cancer types examined are sufficiently competitive. The Commission therefore concluded that the proposed merger would not raise competition concerns and cleared the transaction unconditionally.