Merck to buy Terns Pharmaceuticals for $6.7 billion to boost cancer pipeline

Pharma giant Merck is buying U.S. biotech firm Terns Pharmaceuticals for $6.7 billion, the company said Wednesday.This 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. Terns shares rose 5.3% while Merck stock was largely flat in premarket trading. This is breaking news. Please refresh for updates. ...