Merck nears $6 billion acquisition of Terns Pharma to boost cancer portfolio, FT reports

Merck’s Oncology Strategy and Terns Pharma Acquisition

Negotiations between the two companies are said to be in advanced stages, with an agreement potentially expected within the next few days, the report said on Tuesday.

Following the news, shares of Terns Pharma, which focuses on developing treatments for chronic myeloid leukemia, rose approximately 10% in after-hours trading

The potential acquisition comes as U.S.-based Merck continues to reshape its oncology strategy. The company is in the process of establishing a dedicated cancer division centered around its blockbuster drug Keytruda, as it prepares for the drug’s patent expiration in 2028.

Following the news, shares of Terns Pharma, which focuses on developing treatments for chronic myeloid leukemia, rose approximately 10% in after-hours trading.

Merck (MRK.N) is nearing a roughly $6 billion all-cash deal to acquire biotech firm Terns Pharma (TERN.O), the Financial Times reported on Tuesday, citing people familiar with the matter.

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