Astra eyes record merger with drug rival Gilead: report

British pharmaceuticals group AstraZeneca has approached US rival Gilead Sciences over a possible record merger, Bloomberg reported, as the pair spearhead treatments for COVID-19.

AstraZeneca informally contacted Gilead last month, Sunday’s report said, adding that a combined group would be worth a record-breaking $236 billion when taking into account the companies’ closing valuations Friday.

That was trimmed Monday, with AstraZeneca’s share price down 2.14 percent at the start of London trading.

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