Freshfields has scored a lead role in another US acquisition by pharma giant Merck, this time on the sell-side, advising California-based biotech company Terns Pharmaceuticals on its sale for an approximate equity value of $6.7bn, with Covington & Burling advising Merck.
Last summer Freshfields acted on the buy-side as Merck bought respiratory-focused pharmaceutical company Verona Pharma for $10bn. Latham & Watkins advised Verona.
