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Seagen Stock Leaps On Report Of $40 Billion Takeover By Merck & Co.

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By Martin Baccardax Merck is reportedly eying cancer drug specialists Seagen as it looks to replace revenue from its Keytruda blockbuster, which loses patent exclusivity in 2028. Seagen (SGEN) – Get Seagen Inc. Report shares powered higher Thursday following a report from the Wall Street Journal that it’s in advanced takeover talks with drugmaker Merck & Co. (MRK) – Get Merck & Company Inc. Report that could value the cancer specialist at around $40 billion. The Journal said Merck and Seagen are looking towards a $200 per share price for the Bothell, Washington-based group, and hope to unveil …

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