STAT+: Pharmalittle: We’re reading about AstraZeneca-Bristol merger talks, a revised 340B plan, and more
AstraZeneca stock fell as investors balked at reports of merger talks with Bristol Myers Squibb about forming one of the world's biggest drugmakers
AstraZeneca's shares experienced a 5.5% decline on Monday as rumors circulated regarding potential merger talks with Bristol Myers Squibb. The combined value of the two pharmaceutical companies would amount to nearly $400 billion, according to Reuters. Despite the financial allure, industry experts questioned whether AstraZeneca, the U.K.'s largest drugmaker, required such a transformative acquisition.
Conversely, Bristol Myers' stock rose by approximately 5% in U.S. premarket trading. Analyst Michael Leuchten from Jefferies deemed the proposed merger a "head scratcher" in an investor note.
In related news, Amgen disclosed that hackers had infiltrated its cloud storage systems operated by third-party providers, resulting in the theft of sensitive company data and patient health information. The cybersecurity incident was deemed material by Amgen on July 29, based on the scale of affected files and the potential sensitivity of the data, as reported by Reuters.
Despite thorough investigations, Amgen has not identified any detrimental effects on its products, manufacturing processes, financial reporting systems, or patient care capabilities. The company continues to monitor the situation closely in STAT+.
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