AstraZeneca, Bristol Myers Squibb Weigh a $400B Merger

AstraZeneca and Bristol Myers Squibb held months of merger talks valuing the combined company near $400 billion, per the Financial Times — a deal that would make AstraZeneca the world's fourth-largest drugmaker and draw antitrust scrutiny over two overlapping oncology portfolios. Plus: MapLight's ML-007C-MA hit its Phase 2 schizophrenia endpoint and still lost two-thirds of its market value against Bristol Myers' Cobenfy, an FDA advisory committee voted down Capricor's deramiocel in Duchenne-related cardiomyopathy ahead of an August 22 decision, and Karyopharm's Xpovio failed a second Phase 3 in endometrial cancer. Eli Lilly's Q2 report and Moderna's mRNA-1010 flu vaccine decision both land August 5. Visit us at thepharmacloseout.com.