Anticancer drug manufacturer Siegen (NASDAQ:SGEN) reportedly attracted interest from two pharma giants in less than a year, and Horizon Therapeutics (HZNP) sparked a takeover war, and Amgen (AMGN) won in the second half of 2022.
Pfizer (PFE) is the latest to sniff out a deal to acquire the biotech formerly known as Seattle Genetics. wall street journal was reported last week by citing knowledgeable person.
This news was published by Seagen (SGEN) was the topic of M&A last year, with price controversy leading to MerckMRK) bid to buy it for $40 billion.
Similarly, Horizon Therapeutics (HZNP), several pharmaceutical companies have acquired Amgen (AMGN) has signed a deal worth around $28 billion to acquire the company in the first half of 2023.
Seagen (SGEN), especially Pfizer (PFE) and Merck (MRK) trying to compensate Their upcoming patent cliff.
Of the four cancer treatments approved by Seagen’s (SGEN) portfolio, Padcev and Tukysa, are among the top 10 potential blockbuster cancer drugs based on projected annual growth rates. Drug evaluation report quote last week sell-side consensus.
The company has partnered with Merck (MRK) and Astellas (OTCPK: ALPMF) (OTCPK: ALPMY) is awaiting the expanded indication of Padchev, along with Keytruda, as a first-line treatment for selected patients with metastatic urothelial carcinoma. In late 2022, the FDA accepted his marketing application granting priority review with a target action date of April 21.
Despite acquisition interest, Seagen (SGEN) will decline by 17% in 2022, while Genmab (GMABs) and Incyte Corporation (Insi),addition ~7% and ~9% respectively.
But Wall Street remains bullish on Siegen (SGEN) through 2022, analyst ratings of Genmab (GMABs) and Insights (Insi) fell.
Seeking Alpha contributors, on the other hand, had mixed opinions about Seagen (SGEN). Author William Myers has issued a Hold Rating on U.S. equities. January showed valuation concerns. Dan Victor, by contrast, released a buy rating in December, claiming the stock had “never been this ‘cheap’.” Time in the last decade. ”
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