Balancing Regulatory Standards with the Need for Rare Disease Innovation

Why Eli Lilly paid a massive premium for Centessa's narcolepsy platform and what it signals for the future of neuro-biotech M&A.

Merck's Terns acquisition highlights a critical industry shift toward acquiring de-risked, late-stage assets to secure long-term revenue growth. On March 25, Merck & Co. announced its $6.7 billion acquisition of Terns Pharmaceuticals, a clinical-stage biotech focused on oncology. The deal signals Merck’s determined push to expand beyond its immuno-oncology stronghold in solid tumors and establish a formidable presence in hematologic diseases. Central to the acquisition is TER