AstraZeneca Shares Drop Amid Merger Rumors with Bristol Myers Squibb
Shares of AstraZeneca fell nearly 3% at market open after reports emerged that the UK-based pharmaceutical giant is in talks to merge with oncology rival Bristol-Myers Squibb (BMS), potentially creating a $400 billion company. The rumored deal, if completed, would be one of the largest mergers and acquisitions in pharma history. Both companies declined immediate comment on the reports. Analysts at Citi noted that while such a merger might seem surprising given AstraZeneca's strong pipeline and momentum toward its 2030 revenue goals, BMS' size could give it significant equity in any combined entity. The potential deal comes after AstraZeneca began trading on the NYSE earlier this year and amid ongoing discussions about delisting from the London Stock Exchange. The merger would raise concerns over UK pharmaceutical competitiveness while also needing to align with U.S. antitrust regulations and President Trump's domestic manufacturing agenda.