Merck & Co. Deepens Hematology Pipeline with $6.7 Billion Terns Acquisition
Merck has launched its $53-per-share cash acquisition of Terns Pharmaceuticals, a deal valued at about $6.7 billion that would add TERN-701, a promising oral candidate for chronic myeloid leukemia, to its hematology portfolio and is expected to close in the second quarter of 2026.
Merck & Co., known as MSD outside of the United States and Canada, and Terns Pharmaceuticals, a clinical-stage oncology company, recently announced that the companies have entered into a definitive agreement under which Merck, through a subsidiary, will acquire Terns for $53.00 per share in cash for an approximate equity value of $6.7 billion.
“The acquisition of Terns builds on our growing presence in hematology with TERN-701, a potential best-in-class candidate for the treatment of certain patients with chronic myeloid leukemia,” said Robert M. Davis, Chairman and CEO, Merck & Co. “This transaction further diversifies and strengthens our position in oncology as we continue to look for opportunities to broaden our portfolio into other therapeutic areas.”
“This acquisition reflects our team’s deep commitment to innovation in oncology and developing high-impact medicines,” said Amy Burroughs, CEO, Terns. “By working together, we will advance TERN-701, leveraging the deep expertise and significant resources at Merck, a global biopharmaceutical leader with a proven track record of delivering cancer breakthroughs for patients who need them most. I am immensely proud of the Terns team and our work towards making a difference for people living with CML. Finally, we extend our heartfelt thanks to the investigators, patients, and community advocates whose dedication and support make the development of TERN-701 possible.”
