JPMorgan keeps a Neutral rating on Pfizer (PFE) following a Wall Street Journal report that the company is in early talks to acquire Seagen (SGEN). Seagen would bring Pfizer a portfolio of antibody-drug conjugates that would strengthen its oncology portfolio and could add an additional $7B in 2030 sales, the analyst tells investors in a research note. the same time, Seagen has less of a strategy overlap with Pfizer’s portfolio and the transaction would likely be fairly expensive, says the firm.
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