Merck (MRK) nears a USD 6bln biotech deal to buy Terns Pharmaceuticals (TERNS), according to FT

Merck's near USD 6 billion acquisition of Terns Pharmaceuticals signals a strategic expansion into the biotech space, potentially enhancing its pipeline and market position. Given the size of the deal, it likely reflects Merck's confidence in growth opportunities within biotechnology, and could have implications for peer valuations and future M&A activity in the sector.