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Merck Completes Terns Pharmaceuticals Acquisition

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Merck (MRK) said Tuesday it has completed the acquisition of Terns Pharmaceuticals after a cash tender offer at $53 per share.

Terns' stock will no longer be listed on Nasdaq, it said.

The deal will result in a charge to research and development expense of about $2.35 per share, included in Q2 and full year 2026 GAAP and non-GAAP results, Merck said.

GAAP and non-GAAP EPS are also expected to take a hit of about $0.12 a share in 2026 on costs associated with advancing TERN-701 and costs of financing, it added.

Price: $113.21, Change: $+0.10, Percent Change: +0.09%

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