Pfizer in Talks to Buy Seagen for $30 Billion or More

Multinational pharmaceutical company


Pfizer


is in discussions to acquire biotech firm


Seagen


in a deal that could be worth more than $30 billion, The Wall Street Journal reported.

Seagen (ticker: SGEN) is currently valued at about $30 billion and a buyout would likely require a premium to that. The talks are still at an early stage and there is no guarantee of a transaction, the report said, citing unidentified people familiar with the situation.