Merck to buy Terns Pharmaceuticals for $6.7 billion to boost cancer pipeline [MSNBC.com]
Merck & Company, Inc. (new) (MRK)
Last merck & company, inc. (new) earnings: 4/28 06:45 am
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Source: MSNBC.com
Key PointsIn this articlePharma giantTerns PharmaceuticalsThis is the third multibillion-dollar acquisition for Merck over the past year as the company looks to bulk up its portfolio ahead of its best-selling cancer drug Keytruda losing patent protection in 2028.Merck will acquire Terns for $53 per share in cash for an equity value of about $6.7 billion. That marks a 6% premium to Tuesday's closing price, according to CNBC's calculations. The deal is expected to close in the second quarter.Terns' stock has skyrocketed in recent months with investor excitement building over the experimental drug, which showed promising results in an early trial late last year.Terns shares rose 5.3% while Merck's stock was largely flat in premarket trading on Wednesday. Shares of Terns were up as much as 15% in earlier trading after media reports said the companies were nearing a deal.Stock Chart IconStock chart iconTerns stock has skyrocketed over the past year.This is breaking news.
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News
- Merck to Acquire Terns Pharmaceuticals, Inc., Expanding Its Hematology Pipeline With TERN-701, a Novel Candidate for Chronic Myeloid Leukemia (CML)Business Wire
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- Merck & Co., Inc. (MRK) had its price target raised by Citigroup Inc. from $120.00 to $125.00. They now have a "neutral" rating on the stock.MarketBeat
MRK
Earnings
- 2/3/26 - Beat
MRK
Sec Filings
- 3/12/26 - Form 3
- 2/24/26 - Form 10-K
- 2/17/26 - Form 13F-HR
- MRK's page on the SEC website