AstraZeneca and Bristol Myers Squibb abandon merger talks

Reuters reported that AstraZeneca and Bristol Myers Squibb have ended discussions about a possible merger and will not pursue a deal.

The collapse of the talks removes a potential consolidation that could have reshaped the competitive landscape in oncology and other therapeutic areas.

Both companies said they will continue to focus on their existing pipelines and strategic priorities, leaving investors to reassess any expected synergies.