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Citi has told clients that a large chunk of deal risk is already in AstraZeneca PLC's (LSE:AZN, NASDAQ:AZN) share price after Monday's sharp fall, while Deutsche Bank sees clear parallels with the drugmaker's Alexion acquisition five years ago. The two notes are the second-day response to a...
Even if a megamerger fails to materialize, investors stand to benefit from a wave of M&A activity in the biopharma sector.
Big drug companies have been buying scrappy biotechs to expand their pipelines, but the potential megamerger between AstraZeneca and Bristol Myers Squibb could flip that script.
The UK drugmaker is reportedly talking to Bristol Myers Squibb about a nearly $400 billion tie-up, but investors are struggling to diagnose the logic.
The FTSE 100 index closed down 10.35 points, 0.1%, at 10,857.70.
BMY surged roughly 6% in premarket trading on the news before fading; the stock is now trading near flat. The asymmetric price reaction captures the market's immediate verdict: AZN shareholders see a value-destructive deal, while BMY holders see a potential premium exit.
European stock markets closed mostly higher in Monday trading as the Stoxx Europe gained 0.4%, Germa
AstraZeneca stock took a nosedive Monday amid reports it's mulling a mega-merger with Bristol Myers Squibb.
A combination of the two pharmaceutical companies could create an entity valued at nearly $400 billion, according to the Financial Times
The move would mark one of the industry’s largest ever deals and create the world’s fourth largest pharmaceutical company.
Investing.com -- AstraZeneca PLC (NYSE:AZN) and Bristol-Myers Squibb Company (NYSE:BMY) have held talks in recent months about a deal that would combine the companies into one, according to a Financial Times report.
AstraZeneca is plotting a $400bn (£300bn) merger with US rival Bristol Myers Squibb in a deal likely to raise fresh questions over the company’s ties to the UK.
AbbVie (ABBV) lowered its full-year earnings guidance on Friday to account for the expected dilution
Sanofi wants to broaden the company’s productive partnership with Regeneron, its CEOs said. Elsewhere, Bristol Myers delayed two anticipated study readouts and a Shionogi-backed startup went public.
CEO Tassos Gianakakos said having late-stage assets and a team fortified at MyoKardia really resonated with investors. SpaceX's huge public offering didn't hurt either.
Kardigan plans to use the IPO funds to push its three in-licensed, mid-to-late-stage heart health therapies further down the clinical pipeline.
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