‘No discussions’ over AstraZeneca-Bristol Myers deal, senior source says
Earlier reports said the two drugmakers held talks about a possible deal that would create a pharmaceutical behemoth.
AstraZeneca and Bristol Myers Squibb are not in talks to merge, according to a senior source familiar with the matter. The source stated that there are no discussions and no deal between the companies. AstraZeneca and Bristol Myers Squibb both declined to comment on the matter. The reports of preliminary talks emerged on August 2, with Reuters citing an anonymous source and the Financial Times first breaking the story.
The combined value of a potential merger between the two drugmakers was estimated at nearly US$400 billion. However, the source confirmed that there were no ongoing discussions and the talks had never materialized. AstraZeneca shares dropped around 9% following the news of the deal talks, while Bristol Myers shares remained relatively stable.
Written by urgent.news from Straits Times Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
