Pfizer CEO, Albert Bourla, said on Monday that the huge firm will be able to deliver Seagen’s cancer therapy at an unseen before scale, this came after Pfizer has bought Seagen for $43 billion.
Bourla added that his company can add value to Seagen’s productions, and that the current situation is similar to mRNA’s situation, according to CNBC.
He also pointed out to Pfizer’s method to develop COVID-19 vaccines with the help of BioNTech. “With our scale, with our capabilities, this is the same here,” Bourla stated.
Seagen has developed a new method under the title ADC or antibody-drug conjugates, which uses antibodies to deliver medicine directly to the tumor. This method increases efficacy and decreases side effects.
Bourla said that the ADC are “turbo charge guided missiles that are attacking the cancer cells and can make a huge difference.”
Pfizer will add Seagen’s new treatment to its current treatments, to have four approved cancer treatments with combined sales of around $2 billion in 2022. Seagen is expecting revenues of $2.2 billion by 2023, with a growth of 12 percent.
Pfizer also pointed out to the fact that Seagen can increase its growth by $10 billion by 2023.
The deal came after Pfizer’s preparation for a post-COVID world where vaccine sale have declined, which helped raise its revenues in 2022 to $100 billion.
Pfizer also seeks to focus on the fields of tumors and cancer which it believes to be the biggest growth market.
