AstraZeneca and Bristol Myers Squibb negotiate potential $400 billion pharma merger

London-based AstraZeneca and U.S. drugmaker Bristol Myers Squibb have been holding talks about a potential merger that could produce a pharmaceutical powerhouse valued at roughly $400 billion. One outlet, citing unnamed insiders, said negotiations have been ongoing for several months and that a deal could materialise soon, though it might also stall or collapse. Neither company confirmed the report; AstraZeneca declined to comment, while Bristol Myers Squibb did not answer one outlet request outside regular hours.

One outlet was unable to independently verify the claim. The speculation comes about twelve years after AstraZeneca repelled a takeover bid from Pfizer. If the transaction proceeds, it would create one of the world’s biggest drug groups.