Pearl River-based Pfizer said yesterday the company expects to close its $43 billion deal to buy cancer drugmaker Seagen later this week. Reuters reported the company could then create a new oncology division early next year. WRCR market analyst Ken Mahoney of Mahoney Asset Management in Chestnut Ridge says Pfizer’s offer to donate the rights of royalties from sales of cancer drug Bavencio to the American Association for Cancer Research to quell U.S. regulators’ antitrust concerns, is a unique proposition…
Pfizer said it has all the necessary regulatory approvals to close the deal on Thursday. Bavencio brought in sales of $271 million for Pfizer last year.