According to an article on Bloomberg on Sunday evening, pharma giant Pfizer (PFE
) was recently in talks to purchase London-based biopharmaceutical company AstraZeneca (AZN). The negotiations have since ended, and the companies are no longer discussing the purchase.
Bloomberg referenced two people familiar with the matter, regarding details of the discussions, and these two people also insist that the talks happened months ago, and that the deal is no longer active. The news was originally reported by the Sunday Times in London, which claimed that Pfizer had offered $101 billion for AZN. Neither Pfizer or AstraZeneca has confirmed any of the report.
For more on pharmaceutical companies, check out How Much Dividend-Paying Drug Makers Spend on Research and Development.
Pfizer stock was up 45 cents, or 1.49%, in pre-market trading. YTD, the stock is down 0.69%.
AZN stock was up $3.35, or 5.28%, in pre-market trading. YTD, the stock is down 8.4%.
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