AstraZeneca and Bristol Myers Squibb discuss potential $400 billion merger

AstraZeneca is reportedly weighing a merger with Bristol Myers Squibb that could value the combined company at about $400 billion, according to the Financial Times. The talks have reportedly been ongoing for several months, though it remains unclear whether a deal will be reached. If completed, the transaction would rank among the largest corporate combinations on record and would join two major drugmakers with strong cancertreatment businesses. AstraZeneca did not immediately comment on the report, and Bristol Myers Squibb also did not respond to CNBC’s request for comment. The report comes after AstraZeneca’s recent earnings showed continued growth in cancer and raredisease medicines, while the company has also been pursuing a U.S. listing strategy alongside its London presence.