AstraZeneca Holds Talks with Bristol Myers Squibb on Potential Megadeal, FT Reports
The deal could create one of the world’s biggest pharmaceutical groups with a combined value of nearly $400 billion, FT said.
- On Sunday, the Financial Times reported that AstraZeneca is exploring a merger with Bristol Myers Squibb in a deal that could value the combined pharmaceutical group at nearly $400 billion.
- AstraZeneca, valued at about $264 billion, could gain a foothold by acquiring Bristol Myers Squibb, which holds a $133 billion market capitalization. The merger would create one of the world's largest pharmaceutical groups.
- Bristol Myers faces patent protection losses for Eliquis and Opdivo, which account for half of sales. However, the company reported quarterly sales of $13 billion last week, its highest ever.
- Sources suggest the companies have held talks in recent months, though the deal could materialise soon, be delayed, or fall apart. This report surfaces about a dozen years after AstraZeneca fended off a takeover attempt by Pfizer.
- Bristol Myers has aggressively expanded its portfolio, purchasing seven companies since 2007. Its strategy now focuses on newer products like Breyanzi, Opdualag, and Camzyos to sustain growth amid shifting industry landscapes.
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The two companies have been in talks for months to try to reach an agreement. The British company is suffering a sharp decline in its share price, while the US group is registering strong gains.
A possible merger would be one of the largest operations in the pharmaceutical sector ever. AstraZeneca is valued at $264 billion, and Bristol Myers Squibb at $133,000 million.
British corporation is expected to review 400 billion dollar merger with Bristol Myers Squibb. High cartel hurdles due to the business of cancer medicines. Share of Astra Zeneca under pressure.
Fusion would be one of the largest ever operations in the pharmaceutical sector, reports Financial Times (FT)
This merger would give rise to the fourth largest drug manufacturer in the world in terms of market capitalization. The share of AstraZeneca decreased by 7% after the opening of the stock exchange.
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- 44% of the sources lean Right
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