AstraZeneca's shares fell over £17bn after reports of talks to acquire US rival Bristol Myers Squibb, potentially creating a near $400bn pharmaceutical group. Analysts and shareholders question the deal's rationale due to regulatory hurdles and portfolio overlap.
Britain’s AstraZeneca is reportedly in discussions to acquire US rival Bristol Myers Squibb, a deal potentially creating a nearly $400bn pharmaceutical group. The news caused AstraZeneca's shares to drop, while BMS's rose, with analysts questioning the rationale and regulatory hurdles.
AstraZeneca's CEO Pascal Soriot warns the company must innovate at 'Chinese speed' to compete with emerging pharmaceutical rivals, citing the automotive industry's loss to Chinese electric vehicle dominance. Despite confidence in hitting $80bn 2030 sales targets, Soriot acknowledges the threat from Chinese innovators in novel drug technologies.
AstraZeneca CEO Pascal Soriot discusses how AI enhances productivity in drug discovery and development, enabling smarter design, side effect reduction, and improved trial success prediction.
