Bristol-Myers Squibb (BMY) shares opened higher on Monday following reports that the U.S. pharma giant held preliminary merger talks with UK rival AstraZeneca (AZN). If finalized, this reported transaction would create the world's largest drugmaker (by revenue) with a market cap approaching $400 billion.
The AstraZeneca rumors arrive at a time when Bristol-Myers stock is already in a massive uptrend, currently up more than 20% versus its low in mid-June.
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