AstraZeneca reportedly approached Gilead Sciences last month to gauge its interest in a merger, Bloomberg reported Sunday, citing sources familiar with the matter.
If completed, the deal would be the largest merger in health care history — bringing together two companies with a combined stock market value of nearly $140 billion.
The deal would also create a COVID-19 powerhouse. AstraZeneca's collaboration with University of Oxford has been named in the White House's five Operations Warp Speed picks and Gilead's remdesivir has been cleared to treat patients with severe COVID-19.
But according to Bloomberg sources, no decisions have been made and nothing formal is in the works. Gilead is reportedly not interested in a merger or buyout with another big pharmaceutical company.
Neither company will comment on the situation.
Read the Bloomberg report