Merck (US pharmaceutical company)Mòkè默克to announcexuānbù宣布at / for (price)yǐ以$6.7 billion67 yì měiyuán67亿美元to acquireshōugòu收购Terns Pharmaceuticals (biotech company)Terns PharmaceuticalsTerns Pharmaceuticals。
March 25, 2026 at 6:00 PM
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BusinessMerck to Acquire Terns Pharmaceuticals for $6.7 Billion
Merck announced a deal worth roughly $6.7 billion to acquire Terns Pharmaceuticals and its leukemia drug candidate TERN-701. The deal is aimed at strengthening Merck cancer pipeline ahead of the patent expiry of flagship drug Keytruda in 2028.
American pharmaceutical giant Merck announced on March 25 that it will acquire Terns Pharmaceuticals for approximately $6.7 billion.
This acquisition is being conducted at $53 per share, representing a premium of approximately 31 percent over recent share prices.
After deducting the acquired company's cash assets, the actual net acquisition value is approximately $5.7 billion.
The core asset of this transaction is Terns' drug candidate TERN-701.
TERN-701 is an oral small molecule targeted drug currently in clinical trial stages for treating chronic myeloid leukemia.
Analysts believe TERN-701 has the potential to become a multi-billion dollar blockbuster product and poses competition to Novartis' Scemblix leukemia drug.
This acquisition is Merck's third major acquisition completed within the past year, aimed at strengthening its cancer research and development pipeline.
Its flagship drug Keytruda's patent will expire in 2028.
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