AstraZeneca explores tie-up with Bristol Myers Squibb

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AstraZeneca has been exploring a possible combination with US rival Bristol Myers Squibb after holding discussions in recent months, people familiar with the matter said. A deal would join companies valued at about £196bn for AstraZeneca and roughly $133bn for Bristol Myers Squibb, creating one of the world's biggest pharmaceutical groups. Talks could lead to a near-term agreement but also might be delayed or fall apart. The move would extend AstraZeneca's pivot toward the US market, following its elevation of a New York listing in June, and could have broad industry and market consequences.

AstraZeneca has held merger talks with Bristol Myers Squibb.