Merck’s $6.7B Terns buy is less about leukemia than life after Keytruda.

When one drug drives nearly half of revenue, M&A becomes a way to buy time before the patent cliff.

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https://biotech.industryexaminer.com/merck-terns-deal-keytruda-patent-cliff-biotech-m-and-a/

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Merck’s $6.7 billion Terns deal is really a bet on life after Keytruda - Biotech Industry Examiner

The target is a leukemia drug developer. The real objective is something larger: time, diversification, and a more believable post-Keytruda growth story.

Biotech Industry Examiner