FT: AstraZeneca and Bristol-Myers Squibb plan $400bn merger
Despite months-long discussions, talks could still fall apart, reports the Financial Times. Read more: FT: AstraZeneca and Bristol-Myers Squibb plan $400bn merger
The Financial Times reports discussions continue over a potential $400bn merger between pharmaceutical giants AstraZeneca and Bristol-Myers Squibb. The combined company would rank as the world's fourth-largest pharmaceutical business. While talks have been ongoing for months, the partnership could still be abandoned or delayed. AstraZeneca's shares dropped over 6% on Monday, while Bristol-Myers Squibb shares rose slightly.
AstraZeneca, valued at around $181.5bn, seeks to expand its US presence, its second largest business in the US now trading shares on the New York Stock Exchange. The company reported a 6% profit increase and plans to invest $1bn more in capital expenditure, aiming for $80bn in annual revenue by 2030. Bristol-Myers, at roughly $133bn, recently saw a 6% revenue growth in its US market. Both companies have operations in Ireland and are currently hiring there.
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