The Life and Death of ADC: Technological Involution, Capital Gambling, and the ‘Sellout’ of China’s Biotech
-Introduction– $43 billion shock and $8.4 billion inquiry In March 2023, a thunderous announcement shook the global pharmaceutical industry. Pfizer, a giant in the COVID-19 vaccine sector, declared it would acquire Seagen, the “pioneer” of antibody-drug conjugates (ADC), for a staggering $43 billion. This is not only the largest merger in the pharmaceutical sector since … Read more