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Pfizer’s (PFE) planned $43 billion acquisition of oncology drugmaker Seagen (NASDAQ:SGEN) will see a European Union antitrust review after the companies notified the antitrust regulator about the combination.
The European Commission has set Oct. 19 as a deadline to complete its initial review, according to a listing on the regulator’s website on Friday.
The European antitrust review comes after the deal received a second request from the Federal Trade Commission for more information in July.
Seagen has said the deal is expected to close in late 2023 or early 2024, pending regulatory approvals.
In March, Pfizer announced it planned to acquire Seagen for $229 a share in cash, with the enterprise value of the deal estimated at around $43 billion.
The Pfizer (PFE) CFO is scheduled to speak at the JPMorgan 14th Annual U.S. All Stars Conference on Monday.