AstraZeneca and Bristol Myers Squibb hold merger discussions

AstraZeneca and Bristol Myers Squibb have held early talks about a possible merger, according to reports from the Financial Times and Reuters in August 2026. The discussions are at an initial stage and may lead to a deal, stall, or collapse. If completed, the merger would be one of the biggest in pharmaceutical history. Bristol Myers is under pressure because several of its top medicines, including Opdivo and Eliquis, will lose patent protection in the coming years. This means other companies can copy them and sell cheaper versions. Bristol Myers also has new drugs in clinical trials that could help replace lost revenue. Analysts say agreeing on a price for the deal could be difficult, as both companies would need strong reasons to combine.