Pfizer Is Targeting an Acquisition That Could Be a Game Changer for Its Business

According to a report from The Wall Street Journal, Pfizer is in talks to buy biotech company Seagen (SGEN 0.06%) for more than $30 billion. Last year, Merck was looking to buy Seagen, and at the time, the purchase price was expected to be around $40 billion. However, the stock market's decline has put pressure on valuations across the board.