AstraZeneca is reportedly in discussions with Bristol Myers Squibb for a merger that could create a company valued at approximately $400 billion.
Key facts
- •AstraZeneca and Bristol Myers Squibb have been discussing a potential merger for several months.
- •The proposed deal would create a combined company with an estimated value of $400 billion.
- •Bristol Myers Squibb has acquired seven companies since October 2007.
- •The company's July purchase of Medarex included a metastatic melanoma drug currently in Phase III trials.
UK pharmaceutical company AstraZeneca is considering a merger with U.S. competitor Bristol Myers Squibb. According to a report by the Financial Times, the two companies have been in discussions over the last few months regarding a deal that would value the combined entity at roughly $400 billion.
Status of the potential deal
While the merger would represent one of the largest in history, it remains unclear whether an agreement will be reached. Both companies did not immediately respond to requests for comment regarding the report.
Bristol Myers Squibb acquisition history
Bristol Myers Squibb has pursued an acquisition strategy in the cancer-treatment sector, purchasing seven companies since October 2007. This includes the July acquisition of Medarex, which provided the company with a drug for metastatic melanoma currently in Phase III trials.
Timeline
- October 2007Bristol Myers Squibb began a series of acquisitions in the cancer-treatment industry.
- JulyBristol Myers Squibb acquired the company Medarex.
- SundayThe Financial Times reported that the two companies have been discussing a merger.
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This article was independently rewritten by ManyPress editorial AI from reporting originally published by CNBC Europe.
