Britain's AstraZeneca is reportedly discussing a merger with U.S. rival Bristol Myers Squibb. The potential deal values the combined company at nearly $400 billion.
The merger would create the world’s fourth-largest drugmaker by market value. This combination would establish the industry’s deepest oncology portfolio.
Analysts anticipate intense scrutiny from antitrust regulators due to significant drug portfolio overlaps. The discussions remain in the early stages.
AstraZeneca shares fell more than 7% in London trading. Bristol Myers Squibb shares rose nearly 6% in U.S. pre-market activity.