(March 25): Merck & Co agreed to buy Terns Pharmaceuticals Inc for US$6.7 billion (RM26.54 billion), giving the multinational company access to a promising new leukaemia treatment as it faces the patent expiration of its best-selling cancer drug. Merck will pay US$53 per share in cash for Terns, according to a statement, a 6% premium to its closing price on Tuesday. Terns’ shares were trading 5.4% higher in premarket trading on Wednesday, while Merck shares rose less than 1%. Late last year, Merck agreed to buy Cidara Therapeutics Inc, a biotech developing a flu treatment, in a US$9.2 billion deal. Shares of Rahway, New Jersey-based Merck have gained 11% this year, giving it a market value of US$287.7 billion.

Source: The Edge Markets March 25, 2026 12:01 UTC