The UK pharmaceutical company AstraZeneca is considering a merger with its US competitor Bristol Myers Squibb, with a deal valued at approximately $400 billion, according to the Financial Times.
This merger could become one of the largest in history, but it remains unclear whether the deal will materialize. The companies have been discussing the merger over the past few months.
AstraZeneca and Bristol Myers Squibb did not immediately respond to a CNBC request for comment.
AstraZeneca's share price has more than quadrupled during Pascal Soriot's 14-year tenure as CEO, surpassing the broader FTSE 100 index.
AstraZeneca's second-quarter results showed that demand for cancer and rare disease drugs continues to drive growth.
