AstraZeneca approaches Gilead regarding potential $240B merger

Pharma giant AstraZeneca approached rival Gilead about a potential merger in May, according to a June 7 report from Bloomberg.

The two drugmakers, which have a total market value of almost $240 billion, have not held any formal talks yet. If they were to follow through with this idea, it would be the largest healthcare deal ever. Neither company has publicly commented on the possible deal.

AstraZeneca’s shares grew 11 percent in 2020, as the drugmaker partnered with Oxford University to develop a COVID-19 vaccine. Gilead’s remdesivir drug received emergency approval and is being prescribed as a COVID-19 treatment. 

 

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