Merck & Co., Inc. (NYSE:MRK) is in advanced talks to buy Seagen Inc. (NasdaqGS:SGEN) in a deal that could be worth roughly $40 billion or more, the Wall Street Journal reported on July 6, 2022. The companies are discussing a price above $200 a share for Seagen, the report said, citing people familiar with the matter. Shares of Seagen, which declined to comment on the report, closed at $175 on July 6, 2022.

Merck did not immediately respond to Reuters request for comment outside business hours. Merck and Seagen are seeking to seal a deal on or before the announcement of Merck's second fiscal-quarter earnings set for July 28, 2022, the WSJ report said.