"Merck's Acquisition of Harpoon Therapeutics Sends Ripples Through Oncology Market"

Merck & Co. is in advanced talks to acquire cancer drugmaker Harpoon Therapeutics Inc. for $680 million, aiming to strengthen its position in the oncology market. The acquisition comes as Merck seeks new sources of growth, particularly as its top-selling medicine, Keytruda, faces potential pricing pressure. The deal is part of Merck's strategy to expand its portfolio of cancer drugs, with the company raising its long-term sales outlook for its pipeline of experimental cancer drugs to more than $20 billion annually by the mid-2030s.