Merck & Co. agreed to acquire Terns Pharmaceuticals in a roughly $6.7 billion all-cash deal, aiming to strengthen its oncology portfolio with Terns’ lead asset TERN-701, an oral BCR::ABL1 tyrosine kinase inhibitor for chronic myeloid leukemia (CML). Merck is positioning the candidate as a differentiated option for patients who have failed prior TKIs, with TERN-701 designed to target the ABL myristoyl pocket.