Merck to acquire Terns Pharmaceuticals for $6.7B to expand leukemia drug pipeline with TERN-701.

Merck announced it will acquire Terns Pharmaceuticals for approximately $6.7 billion in cash, paying $53 per share, to strengthen its hematology portfolio. The acquisition centers on Terns' lead drug candidate, TERN-701, an investigational oral treatment for chronic myeloid leukemia (CML) currently in Phase 1/2 trials. TERN-701 has shown promising early clinical results and received FDA Orphan Drug Designation. The deal, expected to close in Q2 2026, aims to enhance Merck's oncology offerings and provide a new treatment option for CML patients with limited responses to existing therapies.