AstraZeneca Bristol Myers Squibb merger talks

AstraZeneca, the UK's second-largest listed company, has reportedly held talks with US rival Bristol Myers Squibb (BMS) about a potential merger that would create one of the world's largest pharmaceutical groups with a combined value of nearly $400 billion. The talks, first reported by the Financial Times, have occurred over recent months, but sources caution that a deal could be delayed or fall apart. If completed, the merger would be among the biggest in pharmaceutical history and would make the combined entity the world's fourth-largest drugmaker by market value. AstraZeneca, led by CEO Pascal Soriot, has been pivoting towards the US, having completed a direct listing on the New York Stock Exchange in June and committing $50 billion to US manufacturing and research. The news has raised concerns about AstraZeneca's continued ties to the UK, as the company has insisted it will remain headquartered in Cambridge and retain its London listing. AstraZeneca's shares fell over 7% in early London trading following the report. The deal would face significant regulatory scrutiny, particularly from US antitrust authorities under the Trump administration. AstraZeneca previously fended off a hostile takeover attempt by Pfizer in 2014. BMS, known for its cancer treatments, has recently beaten Wall Street expectations with its second-quarter results.