French-born Australian CEO of AstraZeneca
Independent reports that AstraZeneca is in discussions to merge with Bristol Myers Squibb, potentially forming a world-beating pharmaceuticals group. The talks could be among the sector’s largest-ever deals, but sources warn the arrangement may be delayed or fall apart. The UK’s AstraZeneca shares have fallen on the news, while BMS commands a sizable market value in the US.
AstraZeneca has announced that Wainua, its gene-silencer drug for transthyretin-mediated amyloid cardiomyopathy, did not meet its primary endpoint in a phase 3 trial. The news triggers a sharp stock drop and prompts investors to rethink the company’s long-term growth targets and the strength of its pipeline.