Seagen stays qui­et on M&A as it push­es Keytru­da-Pad­cev com­bo, con­tin­ues CEO search

Seagen’s keep­ing qui­et on the M&A front as ru­mors fly around a po­ten­tial Mer­ck buy­out. In­stead, the Wash­ing­ton State-based phar­ma com­pa­ny used its Q2 call with in­vestors to dis­cuss its push to build out the pipeline, while rais­ing its full-year guid­ance.

Seagen $SGEN net­ted $498 mil­lion last quar­ter, up 28% from the same quar­ter last year. It’s al­so rais­ing its full-year guid­ance to be­tween $1.7 bil­lion and $1.8 bil­lion, up from $1.6 bil­lion to $1.7 bil­lion pre­dict­ed in Q1 of this year. Seagen is ex­pect­ing $1.5 bil­lion in net sales, and be­tween $50 and $60 mil­lion in col­lab­o­ra­tion and li­cense agree­ment rev­enues. Last quar­ter, Seagen es­ti­mat­ed it would on­ly net $25 to $30 mil­lion from that sec­tor.

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