Shares fell after media reported AstraZeneca and Bristol Myers Squibb are discussing a potential $400bn pharmaceutical merger.
AstraZeneca shares declined 2.7% at market open following reports of merger talks with Bristol Myers Squibb. The proposed deal could create a $400bn pharmaceutical giant, ranking among the largest in industry history.
AstraZeneca, valued at £182bn, and BMS, worth $133.4bn, have complementary portfolios, though analysts noted the move would be unexpected given AstraZeneca’s strong pipeline. The deal structure remains unclear, with both cash and shares under consideration.
The discussions emerge as AstraZeneca pursues its 2030 revenue targets, while BMS could gain significant equity in a combined entity.