Seagen Inc. shareholders on Tuesday approved the Bothell-based biotech’s $43 billion sale to pharmaceutical giant Pfizer Inc.
In a news release, Seagen said the acquisition still needs regulatory approval. The companies expect the deal to close later this year or early next year.
“We are pleased with the outcome of today’s special meeting vote to approve Seagen’s acquisition by Pfizer and thank our stockholders for their support for this compelling transaction,” David Epstein, CEO of Seagen, said in a release. “The affirmative vote brings us one step closer to joining with Pfizer to accelerate our ability to deliver transformative cancer medicines to more patients in need around the world.”
According to Seagen, 99% of the shares represented at Tuesday’s special meeting voted in favor of the deal, which means 88% of the company’s total outstanding shares voted in favor of it.