AstraZeneca holds talks with Bristol Myers Squibb on $400bn merger

British pharmaceutical giant AstraZeneca is reportedly engaged in discussions regarding a potential takeover of its US rival, Bristol Myers Squibb (BMS). The proposed deal, valued at approximately $400 billion, would represent one of the most significant transactions in the pharmaceutical industry's history. Such a merger would establish a formidable new entity, positioning it as the world's fourth-largest drugmaker. AstraZeneca, currently the second-largest company listed in the UK with a market value nearing £196 billion, is seeking to expand its global reach. BMS, headquartered in Princeton and renowned for its advancements in cancer treatments, holds a market value of $133 billion. The potential tie-up signals a major consolidation trend within the pharmaceutical sector, driven by the pursuit of scale and innovation in developing life-saving medicines. Further details on the negotiations and potential outcomes are awaited.