AstraZeneca and Bristol-Myers: when Big Pharma isn’t big enough

AstraZeneca and Bristol Myers Squibb are engaged in discussions regarding a potential $400bn megadeal. This strategic merger could establish the world's fourth-largest drugmaker by market value. The move reflects a trend in Big Pharma where increased scale is prioritised, as enlarged balance sheets provide the necessary financial capacity to make larger bets on potential blockbuster drugs. This consolidation highlights the belief that current corporate sizes may be insufficient for future pharmaceutical development goals.