Merck seemed to be close to buying Seagen last year for a reported price of $200 per share, with the total value of the deal being estimated to be $40 billion. However, the talks between the two sides cooled off for an unspecified reason, allowing Pfizer to get involved.

Wall Street Journal’s report points out that the deal between Pfizer and Seagen is not guaranteed to go through. Two sides need to overcome several obstacles, including the antitrust review, but there is initial optimism that the deal could be pushed over the finish line at some point. Seagen is valued at around $30 billion at the moment, which is reportedly the price Pfizer would pay if the agreement is made.

Pfizer is looking to expand its cancer treatment portfolio, given the fact that several of its patents expire in 2030. This could result in the company losing up to $17 billion in sales.

After the news about Pfizer’s interest in Seagen became public, the company’s stock took a 4% dip on Monday compared to last week’s closing price of $41.70 per share. On the other hand, Seagen’s stock climbed from $161.37 to 182.54 at one point before settling at $176.55.

The post Pfizer Interested in Purchasing Seagen for $30 Billion appeared first on theprimarymarket.com.

The two companies are still having active discussions but are reportedly close to settling on a $200 per share price. The goal is to wrap up the deal before July 28, when Merck is set to announce its second-quarter earnings. Merck previously bought $1 billion of Seagen’s common stock as part of the deal to co-develop a drug for breast cancer.

The news caused Seagen stock to surge to $184 at one point, representing a five percent jump compared to the closing price on Wednesday. On the other hand, Merck shares saw a minor slide dropping as low as $92.56 per share.

Based in the suburbs of Seattle, Washington, Seagen focuses on developing therapies for cancer treatment. The company is considered the leader in antibody-based treatments, and its current portfolio includes four approved drugs.

Merck, on the other hand, is facing the end of the marketing exclusivity period for its flagship cancer drug Keytruda. The patent protection of Keytruda, which brought Merck $17.2 billion in sales in 2021, is set to expire in 2028.

The post Merck Closing in on $40 Billion Acquisition of Biotech Company Seagen appeared first on theprimarymarket.com.

Merck seemed to be close to buying Seagen last year for a reported price of $200 per share, with the total value of the deal being estimated to be $40 billion. However, the talks between the two sides cooled off for an unspecified reason, allowing Pfizer to get involved.

Wall Street Journal’s report points out that the deal between Pfizer and Seagen is not guaranteed to go through. Two sides need to overcome several obstacles, including the antitrust review, but there is initial optimism that the deal could be pushed over the finish line at some point. Seagen is valued at around $30 billion at the moment, which is reportedly the price Pfizer would pay if the agreement is made.

Pfizer is looking to expand its cancer treatment portfolio, given the fact that several of its patents expire in 2030. This could result in the company losing up to $17 billion in sales.

After the news about Pfizer’s interest in Seagen became public, the company’s stock took a 4% dip on Monday compared to last week’s closing price of $41.70 per share. On the other hand, Seagen’s stock climbed from $161.37 to 182.54 at one point before settling at $176.55.

The post Pfizer Interested in Purchasing Seagen for $30 Billion appeared first on theprimarymarket.com.

The two companies are still having active discussions but are reportedly close to settling on a $200 per share price. The goal is to wrap up the deal before July 28, when Merck is set to announce its second-quarter earnings. Merck previously bought $1 billion of Seagen’s common stock as part of the deal to co-develop a drug for breast cancer.

The news caused Seagen stock to surge to $184 at one point, representing a five percent jump compared to the closing price on Wednesday. On the other hand, Merck shares saw a minor slide dropping as low as $92.56 per share.

Based in the suburbs of Seattle, Washington, Seagen focuses on developing therapies for cancer treatment. The company is considered the leader in antibody-based treatments, and its current portfolio includes four approved drugs.

Merck, on the other hand, is facing the end of the marketing exclusivity period for its flagship cancer drug Keytruda. The patent protection of Keytruda, which brought Merck $17.2 billion in sales in 2021, is set to expire in 2028.

The post Merck Closing in on $40 Billion Acquisition of Biotech Company Seagen appeared first on theprimarymarket.com.