Merck Nears $6 Billion Deal to Boost Drug Pipeline, FT Says (1)

Merck & Co. is close to an about $6 billion all-cash deal to buy US biotech firm Terns Pharmaceuticals Inc., as it seeks to boost its drug pipeline ahead of cancer treatment Keytruda’s patent expiry, the Financial Times reported.

The talks are at an advanced stage and could be finalized in the coming days, the FT reported, citing people it didn’t identify. Terns had a $5.4 billion market capitalization as of Tuesday’s close.

Merck and Terns didn’t immediately respond to requests for comment from the FT.

Merck has been pursuing deals to strengthen its pipeline, with Chief Executive ...