Overview
- A Reuters senior source told journalists on Wednesday that there are no discussions and there never were talks between AstraZeneca and Bristol Myers Squibb.
- The reports follow a Financial Times story over the weekend and an earlier Reuters item that said preliminary conversations had taken place, news that sent AstraZeneca shares down about 9% before they recovered some ground.
- Broker and analyst notes from Citi and Deutsche Bank said a tie-up would surprise investors given AstraZeneca’s strong pipeline and that a good deal of the deal risk was already reflected in the stock price.
- Observers highlighted major antitrust friction because both firms sell large oncology drugs, including competing immunotherapies Imfinzi and Opdivo, and noted Bristol Myers faces loss of exclusivity on blockbusters such as Eliquis and Opdivo around 2028.
- Both companies have declined to comment and market watchers say UK disclosure rules mean any formal negotiations of this size would likely have required a public announcement, so investors will watch for official statements or regulatory filings next.