Seattle Genetics CEO Clay Siegall (Image: Life Science Washington)
Merck’s Roger Perlmutter steps up with a cash-heavy, $4.5 billion deal to ally with Seattle Genetics on an under-the-radar ADC and newly-approved Tukysa
While Gilead was crossing the last t’s and dotting the last i’s on their $21 billion deal to buy Immunomedics and their ADC for triple negative breast cancer, Merck was doing the same for a two-pronged, $4.5 billion pact with Seattle Genetics covering another ADC with the same disease target in mind.
The new Merck deals are freighted with a chart-topping load of close to $1.9 billion in cash, a rare sight at Merck, where deals — particularly for experimental drugs — tend to run on the small side for one of the biggest R&D groups in biopharma.
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