'No Discussions' Over AstraZeneca-Bristol Myers Deal, Senior Source Says

3-line summary

• A senior source told Reuters there are "no discussions" between AstraZeneca and Bristol Myers Squibb over a potential deal, quashing merger speculation first reported by the Financial Times on Sunday, according to the report.
• AstraZeneca shares rose 2.9% and Bristol Myers Squibb fell 2.6% following the denial; AstraZeneca had earlier dropped about 9% in one day, its biggest such drop since 2020, after the merger reports surfaced, per the report.

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