Merck is in advanced negotiations to acquire Terns Pharmaceuticals for approximately $6 billion.[1][2][3][4] It is an all-cash transaction to strengthen Merck's drug portfolio before Keytruda's patent expires in 2028.[1][2][4] Terns Pharmaceuticals specializes in developing treatments for chronic myelocytic leukemia.[1] Terns shares rose about 10% in after-hours trading after the news was announced.[1] Merck has a market capitalization of around $287.7 billion and operates in the pharmaceutical industry sector.[1] The firm reported revenue of $65.01 billion with a three-year revenue growth rate of 3.6%.[1] Its operating margin reaches 34.01% and net margin 28.08%.[1] Merck's debt-to-equity ratio is 0.94.[1]