Merck Keeps a Tight Lid on Potential Seagen Merger

Despite weeks of speculation about the company’s plans to acquire Seagen, Merck was tightlipped about the rumors during a conference call this Thursday, July 28th. Sales of Merck’s cancer blockbuster Keytruda totaled $5.3 billion, over a third of the company’s total revenue for the quarter. As a result, it is seeking to widen its offerings.

According to Kevin Dunleavy, “The closest Merck came to addressing the elephant in the room came 42 minutes into a conference call when CEO Rob Davis was asked how the Keytruda-centric company could pull off an M&A deal with another firm that was singularly focused on cancer treatments and do it under the watchful eyes of the Federal Trade Commission.”

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(Source: Fierce Pharma, July 28th, 2022)