pharma giant merck Buying American biotech firm Turns Pharmaceuticals For $6.7 billion, the company said Wednesday.
It is the third multibillion-dollar acquisition for Merck in the past year as the company looks to bulk up its portfolio before it loses patent protection for its best-selling cancer drug, Keytruda, in 2028.
Ternes shares rose 5.3% while Merck stock was largely flat in premarket trading.
This is breaking news. Please refresh for updates.
Choose CNBC as your favorite source on Google and never miss a moment of the most trusted name in business news.
