Merck deal for Seagen unlikely to be finalized ahead of earnings later this month, sources say

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Merck & Co.’s roughly $40 billion deal for Seagen Inc. is unlikely to be finalized ahead of the pharmaceutical giant’s earnings later this month, though the talks remain on track, according to people familiar with the matter.

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The Wall Street Journal reported earlier this month that Merck MRK,
+1.15%
aimed to agree on a purchase of the cancer biotech within a few weeks, a plan that has since been delayed, the people said.

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The change is due partly to a need to wait for data expected soon from a study evaluating one of Seagen’s SGEN,
+1.43%
treatments, the people said. There is also a desire to possibly see the outcome of a royalties-payments case Seagen is pursuing that is also expected soon, the people said. Both could have an impact on Seagen’s valuation.

An expanded version of this report appears at WSJ.com,

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