AstraZeneca and Bristol Myers Squibb held preliminary talks regarding a potential merger. The combined entity would reach a market value approaching $400 billion. This transaction would rank among the largest in healthcare history. The deal would establish the world’s fourth-largest drugmaker by market capitalization.
AstraZeneca shares fell nearly 7% in London following reports of the unconfirmed discussions. Bristol Myers Squibb shares rose during pre-market activity. The merger would significantly expand AstraZeneca’s presence in the U.S. market.
The tie-up would integrate two major oncology franchises. Bristol Myers seeks to address upcoming patent expirations for Opdivo and Eliquis. Discussions remain at an early stage with no certainty of a final agreement.