'We are really keen to join forces with Seagen': Pfizer CEO on plans to acquire cancer drugmaker
- Pfizer CEO Albert Bourla told CNBC's Jim Cramer about his company's proposed $43 billion deal to acquire cancer drugmaker Seagen.
- "We are really keen to join forces with Seagen," Bourla said. "We are going to kill cancer."
Pfizer CEO Albert Bourla discussed his company's plans to acquire cancer drugmaker Seagen in a Tuesday interview with CNBC's Jim Cramer.
"We are really keen to join forces with Seagen," Bourla said. "We are going to kill cancer."
The company plans to acquire Seagen in a $43 billion deal, and Bourla said he is "optimistic" it will close by year-end or early next year. He said Pfizer is in discussion with the Federal Trade Commission to approve the deal, and that the European Commission approved it earlier in October.
Bourla previously told CNBC that it will be able to deliver Seagen's therapy "at a scale that has not been seen before." Seagen is known for its antibody-drug conjugate treatments, which aim to kill only cancer cells, not healthy ones.
Pfizer's Tuesday quarterly report failed to meet Wall Street's expectations, citing inventory write-offs due to lower-than-expected use of its Covid products like Paxlovid and the vaccine. Bourla also said the company's U.S. vaccination projections are lower than expected for a variety of reasons, including "Covid fatigue."
"We are far away from the Covid fear," he said. "Now, we are in the middle of the Covid fatigue. Nobody wants to speak about Covid, and we have also a lot of anti-vaxxers' rhetoric."
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