BRIEF—Pfizer to step in where Merck failed?

US biotech firm Seagen’s shares were up more than 16% at $187.50 in early trading, as unconfirmed media reports suggested that US pharma giant Pfizer was in talks to acquire the cancer focused company.

The media comments come after a rumored takeover by Merck & Co last summer, thought to have involved in buying price of around $40 billion, failed to materialize.

However, the latest discussions are said to be at an early stage, and a number of hurdles would need to be overcome, including the potential for a stringent antitrust review of any proposal.

A transaction, likely valued at more than $30 billion, would help Pfizer make up for its list of patent expirations that are set to expire at the end of the decade and boost its portfolio after making a fortune from vaccines during the coronavirus pandemic.

Driven by sales of its COVID-19 products, Pfizer generated a record $100 billion sales for 2022.