Seagen Inc. Common Stock

SGEN

Market cap $43.2B

Former FDA Commissioner Dr. Scott Gottlieb joins 'Squawk Box' to discuss news of President Trump ordering pharma companies to lower U.S. drug prices in the next 60 days, the move to tiered pricing globally, the future of gene therapy, changes at FDA, and more.

CNBC's Joe Kernen reports on the latest news.

Investors in a hedge fund from Baker Bros. Advisors recently received one of the largest windfalls ever following Pfizer's purchase of Seagen.

Pfizer's share price has stabilized since the company provided 2024 revenue and EPS guidance in late 2023. The success of Adcetris in a trial for relapsed/refractory DLBCL is a positive step for Pfizer's oncology pipeline and the first win since the Seagen acquisition closed. Pfizer's long-term growth strategy in oncology, including the Seagen acquisition, is expected to contribute significantly to revenue growth in the coming years.

Pharma giant Pfizer, fresh off its $43 billion acquisition of Seagen, said it will shut down construction on a new 270,000 square-foot manufacturing facility Seagen was building north of Seattle near its headquarters.

Pfizer (PFE) reported fourth-quarter earnings on Tuesday morning that beat. Wall Street expectations.

CNBC's Jim Cramer pointed out the numerous mergers and acquisitions across the biopharma industry.

Valuations in the biotech market have fallen, making it a good time for acquisitions in the industry. Investors should focus on commercial-stage biotech companies that generate revenue, as they provide a safety net in uncertain economic conditions.

NEW YORK--(BUSINESS WIRE)--Pfizer Inc. (NYSE: PFE) today announced the successful completion of its acquisition of Seagen Inc. (NASDAQ: SGEN), a global biotechnology company that discovers, develops and commercializes transformative cancer medicines. Pfizer completed its acquisition of all outstanding common stock of Seagen for $229 in cash per share, for a total enterprise value of approximately $43 billion. “Cancer remains a leading cause of death, and one in three people in the U.S. will rec.

Editor's note: William Canestaro is managing director at Seattle venture capital firm WRF Capital and leads the biotechnology investment team.