AstraZeneca Shares Tumble 7% After Reported Bristol Myers Talks: Reuters
The proposed deal could create a company worth more than £300 billion and face major antitrust scrutiny, sources said.
- AstraZeneca held talks with New York-listed Bristol Myers Squibb regarding a potential merger that would create a pharmaceutical giant valued at more than £300 billion, according to The Financial Times.
- Under CEO Sir Pascal Soriot, AstraZeneca has aggressively expanded its US footprint, recently completing an additional listing on the New York Stock Exchange to bolster its American presence.
- IG chief market analyst Chris Beauchamp said "Companies saying one thing and doing another is a well-trodden path," noting AstraZeneca recently claimed it did not need M&A to hit targets.
- Antitrust watchdogs pose significant regulatory hurdles, while overlapping cancer drugs like Bristol Myers' Opdivo and AstraZeneca's Imfinzi could attract intense scrutiny and complicate deal approval.
- Sources indicated the proposed deal "may be delayed or fall apart," though if completed, the merger would create the world's fourth-largest pharmaceutical company worth more than £300 billion.
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29 Articles
AstraZeneca and Bristol Myers Squibb (BMS) have recently announced that they are in negotiations that can result in one of the largest pharmaceutical groups in the world, valued at almost $400 billion. AstraZeneca that came out of a vulnerable position in 2014 (when it resisted Pfizer's offer) to become one of the largest quality defensive compounds in Europe, with strong exposure to the US and a reference oncology portfolio. The public ambition…
According to the Financial Times, British pharmaceutical giant AstraZeneca and its American rival Bristol Myers Squibb have been in discussions for months and are considering joining forces to create one of the world's largest pharmaceutical companies. This record-breaking merger, valued at $400 billion (€347 billion), comes at a time when the industry is facing the end of exclusivity on many drugs.
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The Daily Upside
BizToc‘Huh?’ Markets React to AstraZeneca’s Megadeal Talks With Bristol Myers
Britannia might lose its cool over this one. A day after the Financial Times reported $264 billion UK pharma giant AstraZeneca has held talks with $133 billion US rival Bristol Myers Squibb about a seismic $400 billion merger, investors and analysts were left puzzled, perplexed, baffled and bewildered by a major imbalance in the two firms’ pipelines and future bottom lines. Beyond Bolt-Ons Deal or no deal, mere talks between AstraZeneca and Bris…
An AstraZeneca, Bristol Myers Squibb merger could create a cancer-drug giant, but analysts call it ‘odd’
AstraZeneca shares were slumping while Bristol-Myers Squibb’s stock was jumping on Monday on reported deal talks. But the big question is why these two pharmaceutical giants would want to come together in the first place.
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