Stock Movers Merck to Buy Terns; Pentagon Inks Deals to Boost Production; Chewy Shares Gain
Mar 25, 2026
A major pharma takeover for a promising leukemia therapy and the patent pressures driving big deal-making. Defense agreements aim to speed up missile seeker production and surge munitions manufacturing. An online pet retailer posts a sales forecast that sends its shares higher.
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Merck Buys Terns To Replace Keytruda Revenue
- Merck is buying Terns Pharmaceuticals for $6.7 billion to shore up its oncology pipeline ahead of Keytruda patent expirations starting in 2028.
- Terns' TURN701 showed over half of treated chronic leukemia patients had strong improvement within 24 weeks at the American Society of Hematology meeting.
US Moves To Rapidly Scale Missile Production
- The Pentagon and defense contractors struck framework deals to accelerate missile-system production, including plans to quadruple THAAD interceptor seeker output.
- Honeywell will invest $500 million to surge-produce critical munitions components for U.S. stockpiles.
Chewy Forecasts Sales Beat Amid Stock Weakness
- Chewy raised its fiscal 2027 net sales forecast to $13.6–$13.75 billion, beating analyst estimates despite a 29% year-to-date share decline.
- Management cites strong demand and ability to offset inflation and tariff headwinds through execution on e-commerce and veterinary product sales.