Merck eyes $6.7B Terns deal to boost cancer portfolio
Merck & Co. announced on Wednesday that it will acquire Terns Pharmaceuticals in a deal valued at up to $6.7 billion, as the drugmaker moves to strengthen its cancer treatment pipeline ahead of an expected patent expiry for its blockbuster therapy Keytruda.
Merck has offered $53 per share for Terns, representing a 6% premium over the stock’s most recent closing price, News.Az reports, citing Reuters.
Shares of Terns rose 5.5% in premarket trading following the announcement.
The deal gives Merck access to Terns' experimental drug TERN-701, which is being tested to treat chronic myeloid leukemia, a cancer that starts in the bone marrow and causes the uncontrolled growth of leukemia cells.
The deal is expected to close in the second quarter of 2026.
Merck has been looking beyond its top-selling cancer drug, Keytruda, as it braces for the upcoming patent expiry.
Last month, the company unveiled plans to create a separate division for its cancer business.
News.Az
By Nijat Babayev
