Up­dat­ed: No Seagen here: 'Do more' means a small $1.35B pur­chase of Ima­go for Mer­ck

Mer­ck is mak­ing an ac­qui­si­tion, the Big Phar­ma an­nounced be­fore Mon­day’s open­ing bell. No, Seagen is not en­ter­ing the fold, as had been spec­u­lat­ed for quar­ters.

Fold­ing un­der Mer­ck’s wings will be Pfiz­er-backed Ima­go Bio­Sciences. For near­ly a year, Mer­ck CEO Rob Davis has been say­ing the phar­ma gi­ant needs to “do more” on the busi­ness de­vel­op­ment front af­ter its 2021 $11.5 bil­lion ac­qui­si­tion of Ac­celeron.

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