Merck's Keytruda: A lifesaving drug, a global divide
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Merck has agreed to a $6.7 billion all-cash buyout of Terns Pharmaceuticals, acquiring its prized leukemia asset TERN-701. The deal is expected to help Merck replenish its oncology pipeline as its Keytruda approaches loss of exclusivity in 2028.
Merck is buying Terns Pharmaceuticals for $6.7 billion. The deal includes TERN-701, a treatment for chronic myeloid leukemia. TERN-701 has shown promising results in trials, with low rates of adverse events. Merck will acquire Terns for $53 a share, a 6% premium over the previous closing price. The deal is expected to close in the second quarter of this year. TERN-701 could achieve peak sales of over $4 billion, according to analysts.
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