Bothell-based Seagen may be acquired by pharma giant Merck in a deal valued at $40 billion, The Wall Street Journal reported Wednesday.
Talks started in late June, and the acquisition could happen within the next few weeks, according to The Journal. Seagen, previously known as Seattle Genetics, is Washington's largest biotechnology company.
Reached by The Seattle Times, Seagen declined to comment on the possible acquisition. There is no guarantee the two companies will reach a deal. But if they do, it could be the year's largest health care acquisition. The possible acquisition value also falls just below Elon Musk's Twitter bid of $44 billion.
