Expectations were high that Merck & Co., Inc. would confirm recent rumors and announce alongside its second quarter earnings report on 28 July that it is purchasing Seagen Inc. Hopes were dashed, however, when no acquisition was revealed and as a result Merck’s stock price closed slightly lower despite the company’s strong Q2 performance.
Merck’s Solid Quarter Doesn’t Soothe Seagen M&A Watchers
No Deal Was Announced, To The Chagrin Of Investors
Keytruda- and Gardasil-driven revenue growth exceeded forecasts and Merck expects to keep the PD-1 blockbuster cash coming with earlier-stage indications and a potential subcutaneous formulation.
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