Merck to Buy Harpoon Therapeutics for $680 Million

Pharmaceutical giant Merck & Co. has announced a deal to acquire clinical-stage immunotherapy company Harpoon Therapeutics for approximately $680 million. Merck will pay $23 per share in cash for Harpoon, which is more than double the company’s closing price of $10.55 on Friday. The acquisition is expected to strengthen Merck’s position in the immunotherapy market and expand its portfolio in oncology research and development.