{"id":9764,"date":"2023-05-17T03:18:06","date_gmt":"2023-05-17T07:18:06","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/pfizer-plans-31-billion-debt-offering-to-fund-seagen-takeover\/"},"modified":"2023-05-17T03:18:07","modified_gmt":"2023-05-17T07:18:07","slug":"pfizer-plans-31-billion-debt-offering-to-fund-seagen-takeover","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=9764","title":{"rendered":"Pfizer plans $31 billion debt offering to fund Seagen takeover"},"content":{"rendered":"
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\u00a9 Reuters. FILE PHOTO: Pfizer logo is seen in this illustration taken, May 1, 2022. REUTERS\/Dado Ruvic\/Illustration<\/span>
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(Reuters) -Pfizer Inc said on Tuesday it plans to raise $31 billion from a debt offering to finance its proposed acquisition of Seagen Inc.<\/p>\n

Pfizer <\/span><\/span> (NYSE:) struck a $43 billion deal in March to acquire Seagen and its targeted cancer therapies as it prepares for a steep fall in COVID-19 sales and generic competition for some top-selling drugs.<\/p>\n

The company has been pumping billions of dollars into research and acquisitions to mitigate an anticipated $17 billion hit to revenue by 2030 from patent expirations for top drugs, and a decline in demand for COVID products.<\/p>\n

The debt offering, which would be in eight tranches, is expected to close on May 19, the company said, adding that BofA Securities, Citigroup <\/span><\/span> (NYSE:), Goldman Sachs (NYSE:) and J.P. Morgan are acting as the joint lead managers and joint book-running managers.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. FILE PHOTO: Pfizer logo is seen in this illustration taken, May 1, 2022. REUTERS\/Dado Ruvic\/Illustration (Reuters) -Pfizer Inc said on Tuesday it plans to raise $31 billion from a debt offering to finance its proposed acquisition of Seagen Inc. Pfizer (NYSE:) struck a $43 billion deal in March to acquire Seagen and its […]<\/p>\n","protected":false},"author":1,"featured_media":9765,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-9764","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nPfizer plans $31 billion debt offering to fund Seagen takeover | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. FILE PHOTO: Pfizer logo is seen in this illustration taken, May 1, 2022. 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