Merck announced Wednesday it will acquire Terns Pharmaceuticals for $6.7 billion in cash to strengthen its oncology pipeline. The deal centers on Terns' investigational treatment for chronic myeloid leukemia, which could potentially challenge Novartis' existing drug Scemblix in the market.
The acquisition represents Merck's continued push to expand its cancer treatment portfolio through strategic acquisitions. Chronic myeloid leukemia represents a significant therapeutic area where new treatments could address unmet medical needs and compete with established therapies.