AstraZeneca in talks with Bristol Myers Squibb on $400 billion megadeal, FT reports

Published Aug 2, 08:00 PM UTC

According to a Financial Times report, UK pharmaceutical giant AstraZeneca is considering a merger with US rival Bristol Myers Squibb, which would create a combined company valued at approximately $400 billion. The deal, if finalized, would be one of the largest in history. Sources told the FT that the companies have been discussing the merger over the last few months, though it remains unclear whether the deal will come together. Both AstraZeneca and Bristol Myers Squibb did not immediately respond to CNBC's request for comment. The report highlights Bristol Myers Squibb's acquisition strategy, including its purchase of Medarex, which added a key melanoma drug in Phase III trials with potential applications for lung and prostate cancer.