# Merck decided to lower its offer price after seeing updated clinical data for Terns' lead drug TERN-701.

*business · news · 2026-04-07 · Benzinga*

## Key points

- Merck lowered its offer for Terns to $53 per share after reviewing updated TERN-701 data.
- The updated CARDINAL trial data showed a lower MMR achievement rate for TERN-701.
- A competing bidder withdrew after deciding TERN-701 was not sufficiently differentiated or de-risked.
- Despite the lower MMR rate, Merck still considered TERN-701 compelling compared to asciminib.

**Companies:** Merck, Novartis AG, Terns Pharmaceuticals, Hansoh (Shanghai) Healthtech Co., Ltd., Jiangsu Hansoh Pharmaceutical Group Company Ltd.
**Countries:** United States, China

[Read the full story on Benzinga](https://www.benzinga.com/m-a/26/04/51689323/merck-lowered-terns-pharmaceuticals-offer-price-after-trial-data-review)

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