The US Federal Trade Commission (FTC) has requested more information and documentary material regarding Pfizer’s proposed $43bn acquisition of Seagen.

The second request is a standard review procedure by which the FTC and the Antitrust Division of the US Department of Justice investigate mergers and acquisitions.

If a second request is submitted, the law forbids merging companies from completing a transaction until they have substantially complied with the additional investigatory request.

The Pfizer/Seagen agreement, which was originally announced in March this year, would mark a significant boost to the US pharma’s oncology pipeline.

At the time of the announcement, Pfizer's oncology portfolio included 24 approved drugs, while Seagen's included Adcetris for lymphomas, Padcev for bladder cancers, Tivdak for cervical cancer, and Tukysa for breast and colorectal cancers.

The deal would also grant Pfizer access to Seagen’s drug development pipeline as well as its proprietary antibody-drug conjugate technology.

Dr Albert Bourla, chairman and chief executive officer of Pfizer, said at that the time that company was “deploying its financial resources to advance the battle against cancer”.

"Oncology continues to be the largest growth driver in global medicine, and this acquisition will enhance Pfizer’s position in this important space and contribute meaningfully to the achievement of Pfizer’s near- and long-term financial goals,” Bourla said.

David Epstein, Seagen’s chief executive officer, added: “The proposed combination with Pfizer is the right next step for Seagen to further its strategy, and this compelling transaction will deliver significant and immediate value to our stockholders and provide new opportunities for our colleagues as part of a larger science-driven, patient-centric, global company.”

Seagan continues to expect the deal to be completed in late 2023 or early 2024, it said in a regulatory filing, but the FTC’s recent decision to block Amgen’s proposed $27.8bn takeover of Horizon Therapeutics has caused concern among investors.

In May, the FTC filed a lawsuit in federal court to block the transaction, saying it would enable Amgen to leverage its portfolio of blockbuster drugs to "entrench the monopoly positions" of Horizon’s thyroid eye disease drug Tepezza and gout treatment Krystexxa.

FTC Bureau of Competition director, Holly Vedova, said in a statement: “[The] action – the FTC’s first challenge to a pharmaceutical merger in recent memory – sends a clear signal to the market: The FTC won't hesitate to challenge mergers that enable pharmaceutical conglomerates to entrench their monopolies at the expense of consumers and fair competition."

Source: pmlive.com