Padcev combo approval should alleviate concerns on Seagen deal, says BofA

After the FDA approved Seagen’s (SGEN) Padcev plus Merck’s (MRK) Keytruda combo as a first-line treatment for mUC patients who are not eligible to cisplatin-based chemotherapy, BofA analyst Geoff Meacham said the approval "wasn’t unexpected," but argues that it should alleviate concerns on Pfizer’s (PFE) deal to acquire Seagen (SGEN). The firm believes "investors should breathe a sigh of relief" given that the news clears uncertainty around Padcev’s fate in first-line cis-ineligible mUC.