AstraZeneca has held talks with Bristol Myers Squibb about a potential merger that would create one of the world’s largest drugmakers with a combined market value of nearly $400 billion, according to an Aug. 2 report from Financial Times.
The companies have discussed a tie-up in recent months, though the talks could still be delayed or end without a deal, according to the report. AstraZeneca has a market value of about $264 billion, while Bristol Myers Squibb is valued at roughly $133 billion.
A combination would create the world’s fourth-largest pharmaceutical company by market capitalization and significantly expand AstraZeneca’s presence in the U.S. market. The deal also would face antitrust scrutiny because both companies have sizable oncology portfolios, including competing lung cancer therapies, analysts told Financial Times.
If completed, the transaction would surpass AstraZeneca’s $39 billion acquisition of Alexion in 2021 as the company’s largest deal. It also would follow AstraZeneca’s direct listing in New York in June and come as the company pursues its goal of reaching $80 billion in annual revenue by 2030.
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