AstraZeneca holds talks with Bristol Myers Squibb on $400 billion megadeal, FT reports
Potential Merger Between AstraZeneca and Bristol Myers Squibb
Aug 2 (Reuters) - UK drugmaker AstraZeneca has been exploring a deal to combine with U.S. rival Bristol Myers Squibb, the Financial Times reported on Sunday, citing people familiar with the matter.
Deal Overview and Market Impact
The deal could create one of the world's biggest pharmaceutical groups with a combined value of nearly $400 billion.
Negotiation Status
The companies have held talks on a potential tie-up in recent months, the report said, adding that a deal could materialise soon, but could also be delayed or fall apart.
Official Responses
Reuters could not immediately verify the report. AstraZeneca declined to comment, while Bristol Myers did not immediately respond to a Reuters request for comment outside regular business hours.
AstraZeneca's Recent Performance
U.S. Listing Plans
Last year, AstraZeneca unveiled plans for a direct U.S. listing, aiming to capitalise on stronger valuations in the U.S. market while remaining listed in London.
Share Price Growth
The company's share price has more than quadrupled during Pascal Soriot's 14-year tenure as CEO, soaring above the wider FTSE 100 index and main British rival GSK.
Financial Results
Second-Quarter Results
Second-quarter results last week showed strong demand for cancer and rare disease drugs continues to drive growth. Cancer treatments accounted for about $25 billion in 2025 sales, nearly half of the total, followed by cardiovascular, renal and metabolism treatments worth about $12 billion.
Historical Context
The report of the potential deal comes about a dozen years after AstraZeneca fended off a takeover attempt by larger U.S. rival Pfizer.
Reporting Credits
(Reporting by Devika Nair in Bengaluru and Mi; Editing by Paul Simao and Bill Berkrot)
