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Seagen Talks Up 24% Growth, Not About Speculated Merck Buyout

Daiichi Arbitration Is Another Wildcard

 
• By Alaric DeArment
  
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The Seattle-based biotech reported a 24% increase in product sales in the second quarter amid speculation that Merck is about to acquire the company.

Like Merck before it, Seagen kept quiet about a speculated buyout deal between the two companies • Source: Shutterstock

Seagen Inc. disappointed most observers by not talking about the potential buyout of the company by Merck & Co., Inc. during its 28 July earnings report, keeping quiet as Merck did itself in its earnings release the same day. But the Seattle-based company did highlight fundamentals that will be a factor in a possible acquisition, including strong sales growth for its key products and an update on another closely watched situation, its legal dispute with Daiichi Sankyo Co., Ltd.

The company reported total revenue of $498m and product sales of $431.7m for the second quarter, a 24% increase over...

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