AstraZeneca 'in talks' over £300 billion US rival deal

AstraZeneca has held talks with US rival Bristol Myers Squibb over a merger that could create a drugs giant worth more than £300 billion, according to reports.

The pharma firms have held discussions over a potential tie-up in recent months.

The move would mark one of the largest-ever sector deals and create the world’s fourth largest pharma company.

Cambridge-based AstraZeneca is the UK’s second most valuable company, with a market value of around £196 billion.

New York-listed Bristol Myers Squibb focuses on cardiovascular and oncology treatments, and is worth around £133 billion.

Any deal would likely face significant regulatory hurdles, amid significant scrutiny over the sector from competition and antitrust watchdogs.

A merger would also face assessment by the Trump administration’s antitrust authorities, who have sought to increase domestic investment under the US President’s leadership.

The move comes amid AstraZeneca’s efforts to grow its US foothold under boss Pascal Soriot.

The FTSE 100 firm completed a new additional listing on the New York Stock Exchange in June.

Want your business, product or service to be seen regionally and nationally? Bdaily helps you get your story in front of the right audience, every day. Find out how Bdaily can help →

Join more than 55,000 subscribers by signing up to our daily bulletin each morning here.