A senior source close to the matter told Reuters there was never a deal to be done, rebutting reports that had briefly raised the prospect of a nearly $400 billion pharmaceutical combination.
AstraZeneca and Bristol Myers Squibb are not in discussions about a potential deal, a senior source close to the matter told Reuters, pushing back on market speculation about a merger between the drugmakers. The source said there is no deal between AstraZeneca and BMS, that there never was a deal to be done, and that no talks are under way. The denial follows a Reuters report on Sunday, citing a person familiar with the situation, that the companies had held preliminary talks about a possible tie-up that would have created a pharmaceutical group worth nearly $400 billion. Reuters had not been able at that time to determine whether those discussions were still active. The Financial Times first reported the talks. AstraZeneca shares fell about 9% after the earlier reports, while Bristol Myers shares were comparatively steady.