The European Commission unconditionally approved the acquisition offer this Thursday. Drug Seagen from PfizerIn accordance with the merger legislation, from the same sector European Union It found that it did not create competition problems in the European Economic Area (EEA).
Seagen specializes in oncology treatments, primarily antibody-drug conjugates (“ADCs”), while Pfizer’s oncology portfolio consists primarily of hormonal therapies, immunotherapies and targeted therapies. Both companies are based in the United States.
The companies’ marketed and under-development products overlap in the treatment of many types of cancer, such as breast, bladder, colorectal, cervical and lung cancer, as well as lymphoma and leukemia. With the acquisition of Seagen’s ADC technology, Pfizer looks to diversify its portfolio and accelerate the development and commercialization of these Seagen medicines.
Based on market research, the Commission concluded that the merger would not significantly reduce competition in markets where its activities overlap within the EEA.
Brussels focused its investigation on potential competition between the parties’ marketed and in-development products and concluded: The operation will not involve interruption, delay or redirection of research or project lines. Ongoing and overlapping parts are in development.
The activities of both companies target different patient segments and are not substitutable since they do not have the same course of action and do not refer to different lines of treatment and do not imply the loss of innovation resulting from a structural decline at the global level. .
Additionally, the report states: The transaction is unlikely to have a negative impact on pricesGiven that the parties’ offers are different and complementary and that the markets for the treatment of the different types of cancer examined are sufficiently competitive.
Therefore, the Commission concluded that the proposed merger would not raise competition concerns and authorized the operation unconditionally. The transaction was reported on September 14 and can only be reported in Germany, Austria and Cyprus.