According to Edward Dowd, a Washington Post update highlighted researchers are working to understand a ‘perplexing rise,’ which he linked to Pfizer’s $43 billion purchase of oncology company Seagen as a strategic move in cancer therapeutics. Source: Edward Dowd on X, Oct 27, 2025; Source: The Washington Post post on X at https://x.com/washingtonpost/status/1982401871630270871. For equity traders, Pfizer completed the $43 billion acquisition of Seagen in December 2023 and guided that Seagen could contribute more than $10 billion in risk-adjusted revenue in 2030, positioning PFE for a higher oncology mix and potential multiple support on execution of antibody-drug conjugate assets. Source: Pfizer press releases dated March 13, 2023 and December 14, 2023. Seagen was delisted following the deal close, consolidating its oncology pipeline under Pfizer, which concentrates catalyst risk and revenue realization within PFE rather than SGEN as a standalone ticker. Source: Pfizer press release dated December 14, 2023. For crypto traders, healthcare and large-cap M&A moves can influence broad risk appetite that has historically correlated with BTC and ETH during risk-on regimes, though any impact is indirect and macro-driven. Source: International Monetary Fund analysis, Crypto Prices Move More in Sync with Stocks, January 2022.