The Clap Multinational pharmaceutical company Merck & Co (NYSE: MRK) is coming close to acquiring biotech company Seagen Inc (NASDAQ: SGEN).
More on Seagen Seagen develops cancer therapies using antibody technologies.
The Deets Merck is set to offer no less than $200/share, giving Seagen a market cap of no less than $37 billion. A deal could be announced as early as this month.
Why this Matters Merck is looking to diversify its cancer-related medicine after being urged by investors to do so. Merck’s most profitable medicine is the Keytruda, an antibody used to treat several types of cancer.