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Merck Nears $6 Billion Acquisition of Terns Pharma to Boost Cancer ...
Merck is acquiring Terns for $6.7 billion to gain a late-stage leukemia drug and strengthen its cancer pipeline before Keytruda's patent expires, with trials expected by late 2026.
- Merck is buying oncology company Terns Pharmaceuticals in a deal valued at approximately $6.7 billion, paying $53 per share in cash for the Foster City, California-based biotech.
- Preparing for the loss of patent protection for its top-selling immunotherapy, Keytruda, in 2028, the company is aggressively expanding its cancer portfolio as the drug generated nearly $32 billion in sales last year.
- The acquisition secures TERN-701, an oral BCR-ABL inhibitor for CML that Terns believes could become a 'best-in-disease' therapy, aiming to compete with Scemblix from Novartis.
- Both companies' boards have approved the transaction, expected to close in the second quarter, while Merck will record a charge of approximately $2.35 per share related to the acquisition.
- This acquisition follows Merck's recent purchases of Verona Pharma for $10 billion and Cidara Therapeutics for $9.2 billion, as the pharmaceutical industry faces an estimated $320 billion in revenue losses from patent expirations through 2030.
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Ottumwa Courier
Ottumwa CourierMerck buying Terns in $6.7B deal to bolster its cancer portfolio before key Keytruda patent expires
Merck is buying oncology company Terns Pharmaceuticals in a deal valued at approximately $6.7 billion as the pharmaceutical giant works on beefing up its cancer portfolio before a key patent on its cancer drug Keytruda expires in two years.
·United States
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Merck to buy Terns Pharmaceuticals in $6.7B deal
Merck said Wednesday that it intends to buy Terns Pharmaceuticals, the developer of a promising leukemia treatment, for $6.7 billion. The deal values Terns at $53 per share, or a 6% premium to its Tuesday closing price. Terns’ stock price increased six-fold over the past six months, based on the blockbuster potential of its leukemia drug, called TERN-701, and investor speculation that the company would be an attractive takeover target. For Merc…
·Boston, United States
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Leaning Left1Leaning Right1Center6Last UpdatedBias Distribution75% Center
Bias Distribution
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13%
C 75%
12%
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