Seattle Genetics strikes potential $4.2B deal for breast cancer drug
Seattle Genetics announced Monday a deal with New Jersey-based Merck& Co. Inc. to globally develop a drug that targets breast cancer and other solid tumors. The drug is currently in Phase 2 trials.
Merck will pay $600 million upfront and make a $1 billion equity investment in 5 million shares of Seattle Genetics’ common stock at a price of $200 per share. Additionally, Seattle Genetics is eligible for progress-dependent milestone payments of up to $2.6 billion, including $850 million in de velopment…
Source: bizjournals.com Health Care:Pharmaceuticals headlines - Category: Pharmaceuticals Authors: Megan Campbell Source Type: news
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