1. Merck Acquires Terns Pharma for $6.7B to Bolster Pipeline as Keytruda Patent Cliff Looms
Merck is making a major strategic move to fortify its oncology portfolio, announcing its intent to acquire Terns Pharmaceuticals for $6.7 billion. The deal, priced at $53 per share, represents a 6% premium over Terns' recent closing price and centers on the promising leukemia drug TERN-701. Terns' stock had already sur...