Merck to Acquire Terns Pharmaceuticals for $6.7B as Lilly Elevates Former Loxo Executives

Merck announced a $6.7 billion acquisition of Terns Pharmaceuticals to bolster its oncology portfolio with TERN-701, a leukemia drug. This move aims to strengthen Merck's cancer pipeline in preparation for upcoming patent expirations on its blockbuster drug Keytruda. Concurrently, Eli Lilly has integrated key executives from its 2018 Loxo Oncology acquisition into top leadership roles, enhancing its oncology strategy and dealmaking capabilities under executives like Jacob Van Naarden.