Merck & Co. has agreed to acquire Terns Pharmaceuticals for $6.7bn, as it seeks to strengthen its oncology pipeline ahead of looming patent expiries on its top-selling drug Keytruda.

Telix Pharmaceuticals has raised $600mn through an upsized convertible bond offering, reflecting strong investor demand for the group’s refinancing.

The Donald Trump administration has enacted a far-reaching tariff regime on pharmaceuticals, converting months of trade threats into binding law under Section 232 of the Trade Expansion Act.

The US Food and Drug Administration has criticised Pfizer over Facebook advertisements for its cancer therapy Adcetris, saying the campaign failed to adequately communicate the drug’s approved use and safety risks.

Neil Kumar, chief executive of BridgeBio Pharma, has sold nearly $6mn worth of shares in the company, according to a regulatory filing. The transactions, carried out on April 9 and 10, totalled approximately $5.97mn and were executed at prices ranging from about $73 to $76 a share.

Novo Nordisk has struck a partnership with OpenAI to deploy advanced artificial intelligence across its global operations, in a move that underscores the pharmaceutical industry’s accelerating shift towards AI-led drug development.

The US Food and Drug Administration has approved the first generic versions of Farxiga, marking a significant shift for one of AstraZeneca’s top-selling diabetes treatments.