A senior source confirms no discussions are underway between the drugmakers, ending rumors of a potential $400 billion deal.
AstraZeneca and Bristol Myers Squibb have no active merger discussions, a senior source said, dismissing reports of a potential $400 billion tie-up. The source stated no deal was ever considered, contradicting earlier speculation.
Reuters previously reported preliminary talks between the firms, which would have created one of the sector’s largest companies. AstraZeneca shares fell 9% after the initial reports but rebounded 2.9% on Wednesday, while Bristol Myers Squibb declined 2.6%.
The denial follows market speculation about strategic consolidation in the pharmaceutical industry, particularly under AstraZeneca’s long-term leadership.