Merck buying Terns in $6.7B deal to bolster its cancer portfolio before key Keytruda patent expires
North America / United States1 views1 min
Merck is acquiring Terns Pharmaceuticals in a $6.7 billion deal to expand its cancer portfolio. The acquisition comes as Merck prepares for the expiration of a key patent on its cancer drug Keytruda in two years.
Merck is buying Terns Pharmaceuticals for $6.7 billion. The deal aims to boost Merck's cancer portfolio before a key patent on its cancer drug Keytruda expires. Terns is developing a drug to treat chronic myeloid leukemia. Merck will pay $53 per share in cash for each Terns share. The transaction is expected to close in the second quarter.
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