Bristol Myers Squibb and AstraZeneca, two major pharmaceutical companies with market capitalizations exceeding $130 billion, are reportedly in discussions to merge, according to an Aug. 5 report. Analysts believe the potential deal would be the largest in the pharmaceutical industry's history, though they say it is unlikely to proceed due to anticompetitive regulations. Both companies are facing upcoming patent expirations on key drugs, but analysts say Bristol Myers Squibb stands to benefit more from the transaction than AstraZeneca. The blood thinner Eliquis and immunotherapy Opdivo—together accounting for half of Bristol Myers Squibb’s 2025 global sales—are both expected to lose exclusivity within a few years.
Second quarter earnings continue across the sector. Pfizer announced another $2.5 billion in cost reductions through 2029 as part of its restructuring efforts following declining COVID-19 revenues. CEO Albert Bourla addressed analysts during Tuesday’s earnings call, defending Pfizer’s $7 billion in available cash for acquisitions. Merck reported mixed results for its anti-TL1A antibody tulisokibart, which was acquired through an almost $11 billion purchase of Prometheus Biosciences in 2023.
BioSpace has also covered recent earnings from Bristol Myers Squibb, AbbVie, Biogen, Vertex Pharmaceuticals, Moderna and BioNTech. Reports from Novo Nordisk and Eli Lilly are expected Wednesday morning.
At the Food and Drug Administration last week, advisory committee meetings drew attention for Capricor Therapeutics and Replimune products. Capricor’s meeting focused on its Duchenne muscular dystrophy cardiomyopathy cell therapy deramiocel; confusion arose between Capricor and FDA staff regarding statistical analysis plans and targeted indications. The committee ultimately voted 9-3 against recommending approval of deramiocel. CEO Linda Marbán told BioSpace she would not rule out legal action if no path forward is found with regulators.
Replimune received more favorable feedback at its meeting: advisors voted 10-3 supporting approval of RP1 for advanced melanoma ahead of its Prescription Drug User Fee Act (PDUFA) date on August 2.
