AstraZeneca shares slump after $400bn BMS merger rumours

AstraZeneca shares fell by 2.7% at market open following reports that the pharmaceutical company is in talks about a potential merger with rival Bristol Myers Squibb (BMS). According to the Financial Times, the combination would create one of the world's largest pharmaceutical companies with a combined value of approximately $400 billion. AstraZeneca has a market capitalization of around £182 billion ($245 billion), while BMS is worth approximately $133.4 billion. Citi analysts stated that a merger would be surprising given AstraZeneca's leading pipeline and positive momentum in meeting 2030 revenue targets. Neither company commented on the reports. Any such mega-merger would need to pass US antitrust reviews and align with President Trump's domestic manufacturing agenda.