AstraZeneca and Bristol Myers Squibb deny merger talks

Published Aug 5, 01:11 PM UTC

A senior source close to the matter told Reuters on August 5, 2026, that AstraZeneca and Bristol Myers Squibb never held merger discussions and are not in talks now. The denial followed reports that the two pharmaceutical companies had been in preliminary discussions about a combination that could have created a company worth nearly $400 billion. AstraZeneca shares dropped roughly 9% following the initial deal reports, while Bristol Myers Squibb shares rose 6%. Analysts at Jefferies and Citi questioned the strategic rationale, noting significant overlap in oncology that would have drawn antitrust scrutiny. AstraZeneca's oncology franchise generated around $25 billion last year, while Bristol Myers Squibb faces pressure as exclusivity periods on key drugs like Opdivo and Eliquis wind down.