AstraZeneca and Bristol Myers Discussed $400 Billion Tie-Up

AstraZeneca held early-stage talks with Bristol Myers Squibb about a combination worth roughly $400 billion, the Financial Times reported on August 2, 2026, with Bloomberg and Reuters confirming. The deal would more than double Pfizer's abandoned $160 billion Allergan bid — pharma's largest ever attempted. Both firms have major oncology franchises. Talks may stall or collapse.