AstraZeneca Shares Fall 8.
9% Over Merger Talks with US Cancer Drug Firm The news of a potential merger between AstraZeneca and Bristol Myers Squibb has sent shockwaves through the pharmaceutical industry, wiping over £17 billion off AstraZeneca's market value in a single day.
The proposed tie up would create one of the biggest pharmaceutical deals in history. AstraZeneca's shares plummeted by 8. 9% on Monday to close at £115, pushing its value down to about £178 billion.