Bulletin
Investor Alert

The Wall Street Journal Archives | Email alerts

July 6, 2022, 10:58 p.m. EDT

Merck in talks to buy cancer biotech Seagen for about $40 billion

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Merck & Co. Inc. (MRK)
  • X
    Merck KGaA (MRK)
  • X
    Seagen Inc. (SGEN)

or Cancel Already have a watchlist? Log In

Cara Lombardo, Dana Cimilluca, Jonathan D. Rockoff

Merck & Co. /zigman2/quotes/209956077/composite MRK +0.64% /zigman2/quotes/209909728/delayed XE:MRK +0.03% is in advanced talks to acquire Seagen Inc. /zigman2/quotes/203326163/composite SGEN -0.42% and is aiming to finalize a purchase of the cancer biotech in the next few weeks, according to people familiar with the matter, in a deal that could be worth roughly $40 billion or more.

The companies are discussing a price for Seagen above $200 a share and are seeking to seal a deal on or before the announcement of Merck’s second fiscal-quarter earnings, set for July 28, the people said. Seagen’s stock closed at $175.13 on Wednesday.

There is still no guarantee the companies will reach agreement on a takeover deal.

New Jersey-based Merck has a market value of around $235 billion. Acquiring Seagen would help broaden its lineup of cancer drugs, currently led by the blockbuster immunotherapy Keytruda, the company’s top-selling product with $17.2 billion in sales last year.

An expanded version of this report appears on WSJ.com.

Also popular on WSJ.com:

Natalie Portman’s arms are the breakout stars of ‘Thor: Love and Thunder.’

Russian army turns Ukraine’s largest nuclear plant into a military base.

/zigman2/quotes/209956077/composite
US : U.S.: NYSE
$ 107.50
+0.68 +0.64%
Volume: 3.16M
Nov. 25, 2022 1:10p
P/E Ratio
17.89
Dividend Yield
2.57%
Market Cap
$272.56 billion
Rev. per Employee
$881,235
loading...
/zigman2/quotes/209909728/delayed
XE : Germany: Xetra
175.90
+0.05 +0.03%
Volume: 154,342
Nov. 25, 2022 6:30p
P/E Ratio
22.03
Dividend Yield
1.05%
Market Cap
€76.48 billion
Rev. per Employee
€361,073
loading...
/zigman2/quotes/203326163/composite
US : U.S.: Nasdaq
$ 123.44
-0.52 -0.42%
Volume: 270,294
Nov. 25, 2022 1:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$22.92 billion
Rev. per Employee
$696,865
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.