Merck is acquiring Terns Pharmaceuticals in a deal valued at approximately $6.7 billion. The acquisition aims to strengthen Merck’s cancer treatment portfolio.
The all-cash deal will provide Merck with access to a promising new leukemia treatment. Discussions were reportedly advanced as of Tuesday, with people familiar with the matter confirming the agreement.
This move comes as Merck prepares for the patent expiration of Keytruda, its current top-selling cancer drug, which is expected in two years. Bolstering its pipeline is a key priority for the pharmaceutical company.