AstraZeneca explores $400 billion tie-up with Bristol Myers
What's at stake: A deal would create one of the world's biggest drugmakers, though talks could still stall or collapse.
AstraZeneca has been exploring a combination with Bristol Myers Squibb that could create a pharmaceutical group worth nearly $400 billion, according to a Financial Times report citing people familiar with the matter. The companies have held talks in recent months, and the report said an agreement could come together soon but may also be delayed or fall apart. AstraZeneca declined to comment, while Bristol Myers did not immediately respond. The potential tie-up comes after AstraZeneca last year set out plans for a direct US listing while keeping its London listing. The company's recent growth has been driven by strong demand for cancer and rare disease medicines.