Hi there, and happy Wednesday from STAT’s London bureau, with Andrew Joseph here tag-teaming today’s edition with Mr. Pharmalot. We’re in the midst of those confusing weeks when the U.S. has changed clocks but we here in the U.K. have yet to (it’s our turn this weekend). And while we have to keep double-checking our time differences, one thing that remains apace is the headlines. …
Merck intends to buy Terns Pharmaceuticals, the developer of a promising leukemia treatment, for $6.7 billion, STAT brings us. The deal values Terns at $53 per share, or a 6% premium to its Tuesday closing price. Terns’ stock price increased six-fold over the past six months, based on the blockbuster potential of its leukemia drug, called TERN-701. For Merck, acquiring Terns deepens its cancer drug pipeline as the pharma giant prepares to lose patent protection and revenue from its blockbuster cancer immunotherapy drug Keytruda.
Eli Lilly acquired the biotech Loxo Oncology in 2019, and since then, Loxo’s executives have become key players in the pharma company’s leadership team, STAT highlights. Jacob Van Naarden, who was Loxo’s chief operating officer, now not only now runs all of Lilly’s oncology efforts, both research and development as well as sales and marketing, but as of 2025 served as Lilly’s head of business development, overseeing all dealmaking for a company that now claims the highest stock market value in the pharmaceutical industry. Other top players include Nisha Nanda, who runs Lilly’s Catalyze360 effort, and David Hyman, Lilly’s chief medical officer.Continue to STAT+ to read the full story…