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Terns Pharmaceuticals, Inc.

Terns Pharmaceuticals, Inc.

Clinical-Stage Biopharmaceutical Company

Appears in 1 story

Stories

Merck races to rebuild its drug portfolio before Keytruda's patent expires

Money Moves

Being acquired by Merck

Keytruda, the world's best-selling drug, generated $31.7 billion for Merck in 2025 — roughly 40% of the company's total revenue. Its key U.S. patents expire in 2028, and when they do, cheaper copies will enter the market and that revenue will begin to evaporate. Merck has now spent over $25 billion on three acquisitions in nine months to build the portfolio that will need to replace it.

Updated Yesterday