Why Seagen (SGEN) Shares Are Falling Premarket Today - Merck & Co (NYSE:MRK)

Merck & Co Inc MRK and Seagen Inc SGEN have not been able to agree on a buyout price, Bloomberg reported.
The deal talks have been stalled, for now, threatening Merck's potentially the largest deal in more than a decade, according to people familiar with the matter.
Previously, Merck and Seagen's deal was expected to be sealed within a few weeks, worth roughly $40 billion or more.
Merck will still have a significant presence in oncology if the deal fails. It already has one of the best-selling cancer treatments in the world, its Keytruda immunotherapy drug, but it's heavily reliant on that one product.
Also Read: Seagen For Sale? This Acquisition Target Is 'Too Intriguing To Ignore,' RBC Says.
Seagen develops antibody-drug conjugates (ADCs). These precision medicines deliver potent cancer-killing drugs that might otherwise be too toxic to use.
The new delivery mechanism uses antibodies to deposit a strong drug concentration directly at a tumor site, which may increase efficacy with fewer side effects.
Price Action: SGEN shares are down 10.3% at $148.00 during the premarket session on the last check Friday. MRK shares closed at $89.80 on Thursday.

Merck's Buyout Of Seagen Hits Speed Braker Over Price Agreement: Report