There are "no discussions" ongoing between AstraZeneca and Bristol Myers Squibb over a potential deal, a senior source close to the matter told Reuters on Wednesday, quashing the prospect of a mooted mega merger between the drugmakers."There is no deal between AstraZeneca and BMS. There never was a deal to be done, and there are no discussions between the companies," said the source, speaking on condition of anonymity.AstraZeneca and Bristol Myers Squibb both declined to comment in response to emailed questions from Reuters. On Sunday Reuters reported, citing a person familiar with the situation, that the two drugmakers had held preliminary talks about a possible deal that would create a pharmaceutical behemoth with a combined value of nearly $400 billion.Reuters was unable to ascertain at that time if the discussions remained ongoing.The Financial Times first reported news of the talks. AstraZeneca shares slid around 9% after the reports of the deal talks, while Bristol Myers shares had held more steady.
'No discussions' over AstraZeneca-Bristol Myers deal, senior source says
AstraZeneca and Bristol Myers Squibb have denied any ongoing merger discussions. A senior source close to the matter stated no deal was ever planned. This comes after reports of preliminary talks between the two major drugmakers. AstraZeneca shares experienced a significant decline following the initial deal speculation. Both companies declined to comment on the reported discussions.
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