health
Merck to buy Terns Pharmaceuticals for $6.7 billion to boost cancer pipeline
Merck is bulking up its portfolio ahead of its best-selling cancer drug Keytruda losing patent protection in 2028.
TL;DR
- Merck is acquiring Terns Pharmaceuticals for $6.7 billion to strengthen its oncology pipeline.
- The acquisition aims to diversify Merck's portfolio ahead of Keytruda's patent expiration in 2028.
- Terns is developing a leukemia drug, TERN-701, seen as a potential multi-billion dollar asset.
- This is Merck's third multibillion-dollar acquisition in the past year.
- Merck's CEO expressed confidence in TERN-701's potential to drive growth and benefit patients.