AstraZeneca and BMS deny merger talks, Reuters says no deal

Reuters reported that rumors of a merger between AstraZeneca and Bristol Myers Squibb have been dismissed.

A senior source close to the matter told Reuters there is no deal and no discussions between the companies.

Analysts had previously noted that a combined entity would have been the largest pharma transaction, valued around $400 billion, but many considered the prospect unlikely because of competing product portfolios.

The clarification ends a brief period of heightened speculation in the industry.