Slide 1: Pfizer Invests $43B to Battle Cancer
Pfizer Invests $43B to Battle Cancer March 13, 2023 Breakthroughs that change patients’ lives 1
Slide 2: Forward Looking Statements and Other Notices
Forward Looking Statements and Other Notices Our discussions during this conference call will include forward-looking information about, among other topics, Pfizer’s proposed acquisition of Seagen, Pfizer’s and Seagen’s commercialized and pipeline products, including anticipated launches thereof, an
Slide 3: Additional Information and Non-Solicitation
Additional Information and Non-Solicitation Additional Information and Where to Find It In connection with the proposed transaction, Seagen will be filing documents with the SEC, including preliminary and definitive proxy statements relating to the proposed transaction. The definitive proxy statemen
Slide 4: Today's Speakers
Today’s Speakers Dr. Albert Bourla David Denton Chris Boshoff David Epstein Chairman and Executive Vice President, Chief Development Officer, Chief Executive Officer, Chief Executive Officer, Chief Financial Officer, Oncology & Rare Disease, Seagen Pfizer Pfizer Pfizer 4
Slide 5: Great News for Pfizer, Seagen & Patients with Cancer
Strategic Rationale Great News for Pfizer, Seagen & Patients with Cancer Combination of Pfizer and Seagen will have the potential to: • Enhance Pfizer’s position as a leading company in the important oncology space • Replicate Pfizer’s COVID-19 success in cancer • Help bring Seagen’s proven and prom
Slide 6: What Seagen Brings to Pfizer
Strategic Rationale What Seagen Brings to Pfizer Portfolio Pipeline & Platform People • Four cancer treatments in • 11 clinical programs, many • Smart, dedicated and purpose- the market with large potential patient driven team populations • Three ADCs • Expertise and insights will • Certain CD30-exp
Slide 7: Potential Growth Accelerants
Strategic Rationale Potential Growth Accelerants + Commercial R&D • Combined U.S. infrastructure • Speed via enhanced site 3x that of Seagen alone network • Combo opportunities for • Deeper and broader compelling therapeutic capabilities regimens • Global footprint • Complementary capabilities 7
Slide 8: Antibody-Drug Conjugates: Emerging Pillar of Cancer Care
Seagen Platform, Portfolio & Fit with Pfizer Antibody-Drug Conjugates: Emerging Pillar of Cancer Care Seagen at the Forefront of Shifting Therapeutic Paradigm Towards Targeted Cytotoxic Agents Seagen is the Leader in ADC Development Cancer Care • Pioneers in the ADC space for 20+ years with an indus
Slide 9: Seagen In-Line Portfolio Across a Range of Tumor Types
Seagen Platform, Portfolio & Fit with Pfizer Seagen In-Line Portfolio Across a Range of Tumor Types 4 Approved Products with Active Lifecycles Best-in-Class TKI for Foundation of care and First- First-in-Class ADC for Locally Overview HER2+ Breast Cancer and First First-in-Class ADC for in-Class ADC
Slide 10: Pfizer & Seagen: Enhanced Leadership Position in Oncology
Seagen Platform, Portfolio & Fit with Pfizer Pfizer & Seagen: Enhanced Leadership Position in Oncology Complementary Portfolios Across In-Line Medicines & Late-Stage Development Programs(1) Breast Cancer Genitourinary Cancer Hematology Precision Medicine (Colorectal, Melanoma and Lung) Seagen Pfizer
Slide 11: Breakthrough Potential with 15 Clinical Assets in Phase 1/2
Seagen Platform, Portfolio & Fit with Pfizer Breakthrough Potential with 15 Clinical Assets in Phase 1/2 Pipeline of Early-Stage NMEs Have Potential to Drive Significant Long-Term Growth TIVDAK + Carboplatin, Phase 1/2 SGN-B6A(1) - Phase 1 Disitamab Vedotin (DV)(1) - Phase 2 First ADC targeting Tiss
Slide 12: Pfizer & Seagen: Combining Expertise to Create Potentially More Value
Seagen Platform, Portfolio & Fit with Pfizer Pfizer & Seagen: Combining Expertise to Create Potentially More Value Significant Potential Upside by Combining Pfizer & Seagen Oncology Capabilities Leveraging Pfizer protein engineering capability Incorporating Pfizer’s small molecule degrader to advanc
Slide 13: Transaction Overview
Transaction Overview & 2030 Contribution Transaction Overview • $229 per share; 100% cash consideration Purchase • Transaction value of approximately $43 billion (inclusive of net debt) Price • Premium of 33% to the 3/10/23 closing price and 42% premium to the unaffected closing price on 2/24/23 • E
Slide 14: Strengthens Pfizer's Long-Term Growth Plans
Transaction Overview & 2030 Contribution Illustrative* Strengthens Pfizer's Long-Term Growth Plans Seagen expects to generate revenue of more than $2B in 2023. Pfizer believes Seagen could contribute more than $10B to 2030 risk adjusted revenues, subject to clinical and regulatory success ~$84B ~$25
Slide 15: Path to $25B Potential Revenue in 2030 from New Business Development
Transaction Overview & 2030 Contribution Illustrative* Path to $25B Potential Revenue in 2030 from New Business Development(1) Remaining Gap <$5B ~$84B ~$25B4 $XB5 '25-'30 CAGR 10% ~$52B1 Seagen >$10.0B '22-'25 CAGR 6% ~$70B '25-'30 CAGR 6% with new launches ~$20B3 New launches ~$17B2 Completed Curr
Slide 16: Key Takeaways
Key Takeaways Key Takeaways Deploying Pfizer's financial resources to advance the battle against cancer, a leading cause of death worldwide with a significant impact on public health Accelerating the next-generation of cancer treatments through the combination of Seagen's ADC technology with the
Slide 17: Q&A Session
Q&A Session Breakthroughs that change patients’ lives 17
Slide 18: Footnotes (Page 1 of 3)
Footnotes (Page 1 of 3) Definitions of Acronyms: • ADC: Antibody-drug conjugate • mBC: Metastatic Breast Cancer • AML: Acute Myeloid Leukemia • mCC: Metastatic Cervical Cancer • BD: Business Development • MDS: Myelodysplastic Syndrome • B7H4: B7 Homolog 4 • mTNBC: Metastatic Triple Negative Breast C
Slide 19: Footnotes (Page 2 of 3)
Footnotes (Page 2 of 3) (1) Seagen selected commercialization territories: • Adcetris® (brentuximab vedotin) – U.S. & Canada (collaboration with Takeda) • Padcev ® (enfortumab vedotin) – U.S. (co-commercialization with Astellas), Canada and Latin America (the latter through distributor Adium). Seage
Slide 20: Footnotes (Page 3 of 3)
Footnotes (Page 3 of 3) (3) Adjusted income and Adjusted diluted EPS are defined as U.S. GAAP net income attributable to Pfizer Inc. shareholders and Reported diluted EPS attributable to Pfizer Inc. common shareholders before the impact of amortization of intangible assets, certain acquisition-relat