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00:03AstraZeneca shares fell as much as 7% on Monday after reports that the company had discussed
00:07a potential merger with Bristol-Myers Squibb, according to CNBC. Bristol-Myers shares rose
00:136% in U.S. pre-market trading. The potential $400 billion deal would rank among the largest
00:20pharmaceutical mergers ever. Neither company confirmed the report, and sources said a deal
00:25may never materialize. Analysts questioned why AstraZeneca would pursue the transaction
00:31given its strong drug pipeline and long-term growth targets. Analysts also pointed to Bristol-Myers'
00:37upcoming clinical trial results and patent expirations as factors complicating the
00:42potential tie-up. They said a combined company would create one of the industry's largest
00:47oncology portfolios and could face antitrust scrutiny. For all things money, visit Benzinga.com.
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