AstraZeneca PLC, a biopharmaceutical company, focuses on the discovery, development, manufacture, and commercialization of prescription medicines. The company offers Imjudo, Datroway, Iressa, Tagrisso, Imfinzi, Lynparza, Calquence, Enhertu, Orpathys, Truqap, Zoladex, Faslodex, Crestor, Andexxa, Onglyza, Symlin, XIGDUO XR, Atacand, Atacand HCT, Atacand Plus, Farxiga/Forxiga, Plendil, Modip, Splendil, Munobal, Flodil, Tenormin, Tenormine, Prenormine, Atenol, Zestril, Brilinta/Brilique, Komboglyze, Qtern, Wainua, Byetta, Lokelma, Seloken ZOK, Toprol-XL, Betaloc ZOK, XIGDUO, Accolate, Accoleit, Vanticon, Bricanyl Respules, Eklira Genuair/Tudorza/Bretaris, Pulmicort Turbuhaler, Symbicort Turbuhaler, Airsupra, Bricanyl Turbuhaler, Fasenra, Rhinocort, Tezspire, Bevespi Aerosphere, Daliresp/Daxas, Oxis Turbuhaler, Saphnelo, Breztri Aerosphere, Duaklir Genuair, Pulmicort Respules, and Symbicort pMDI. It also provides Beyfortus, Kavigale, Evusheld, Fluenz/FluMist, Synagis, Kanuma, Ultomiris, Koselugo, Voydeya, Soliris, Strensiq, Nexium, and other medicines. The company offers its products for ocology, cardiovascular, renal and metabolism, respiratory & immunology, vaccines and immune, and therapies rare diseases. It serves primary and specialty care physicians through distributors and local representative offices in the United Kingdom, the Americas, rest of Europe, Asia, Africa, and Australasia. It has a strategic agreement with Tempus and Pathos to develop the largest multimodal foundation model in oncology; CSPC Pharmaceutical Group Limited to advance the discovery and development of novel oral candidates, with the potential to treat diseases across multiple indications; and Nucs AI Inc. to develop AI-driven Response Prediction for Therapeutic Radioconjugates. The company was formerly known as Zeneca Group PLC and changed its name to AstraZeneca PLC in April 1999. AstraZeneca PLC was incorporated in 1992 and is headquartered in Cambridge, the United Kingdom.
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Daiichi Sankyo and AstraZeneca Start Phase 3 Trial of Datroway in Urothelial Cancer
Daiichi Sankyo and AstraZeneca have dosed the first patient in the TROPION-Urothelial04 phase 3 trial, evaluating Datroway plus rilvegostomig or Datroway monotherapy versus current standard of care as adjuvant treatment for patients with high-risk muscle invasive urothelial cancer. The trial will enroll approximately 915 patients across Asia, Europe, North America, Oceania, and South America, with disease-free survival as the primary endpoint. This is the second pivotal trial for Datroway in urothelial cancer, following encouraging results from earlier studies. Muscle invasive urothelial cancer represents about 30% of all urothelial cancer cases, and there are currently no TROP2-directed medicines approved for this disease.
AstraZeneca Pays $600 Million Upfront for Global Rights to Dizal's Lung Cancer Drug Zegfrovy
AstraZeneca is paying $600 million upfront to secure global rights to Zegfrovy from Dizal Pharmaceutical, with up to $900 million in additional milestone payments bringing the deal's potential value to $1.5 billion. Zegfrovy, also known as sunvozertinib, is an oral treatment approved in the United States and China for certain adults with locally advanced or metastatic non-small cell lung cancer with EGFR exon 20 insertion mutations whose disease has progressed on or after platinum-based chemotherapy. In the Phase III WU-KONG28 trial, Zegfrovy produced median progression-free survival of 10.3 months compared with 7.5 months for chemotherapy. Dizal reported approximately $85 million or 576 million yuan in Zegfrovy revenue during 2025, an increase of roughly 85% from the previous year. AstraZeneca will take responsibility for the treatment's global development and commercialisation, and the deal supports its goal of reaching $80 billion in annual revenue by 2030.
Dizal Pharmaceutical first-half revenue up 47%, losses narrow significantly, and AstraZeneca global license secured
Dizal Pharmaceutical released its 2026 interim report. First-half operating revenue reached 523 million yuan, up 47.24% year on year, while net profit attributable to the parent company was negative 210 million yuan, narrowing the loss by 167 million yuan compared with the same period last year. Both core products, Sunvozertinib and Golidocitinib, have been included in the national medical insurance drug list, driving all revenue from the domestic market. Gross margin reached 96.00%, and net margin improved to negative 40.77% from negative 106.29% a year earlier. Selling expenses fell 10.16% year on year to 241 million yuan. Research and development investment was 402 million yuan, down 1.53% year on year, and R&D expenses as a share of revenue dropped to 76.92% from 115.00%. In July 2026, the company signed a license agreement with AstraZeneca, granting exclusive global development and commercialization rights for Sunvozertinib. It expects to receive an upfront payment of 600 million US dollars, up to 400 million US dollars in clinical development milestone payments, up to 500 million US dollars in sales milestone payments, and royalties. The transaction is expected to close in the second half of 2026.
Healthcare ETFs Hit One-Year Highs on Earnings and M&A
Healthcare ETFs are hitting one-year highs as the sector benefits from improving earnings visibility, attractive relative valuations, and a rotation out of overcrowded AI and tech trades into defensive growth. State Street Health Care Select Sector SPDR ETF XLV has surged 6.6% over the past month compared with 3.4% gains for State Street SPDR S&P 500 ETF Trust SPY. S&P 500 healthcare companies are expected to deliver double-digit earnings growth from Q4 2026 through 2027, and the sector is expected to log a 21.2% increase in earnings on 2.2% higher revenues, according to Zacks Sector and Market Earnings Trends issued on Aug. 12, 2026. M&A value in the sector has touched nearly $284 billion this year, approaching 2025's total of $306 billion, and hedge fund bets in favor of healthcare stocks recently neared a five-year high, per a Goldman Sachs note. The FDA has accelerated its approval process, with the annual number of new drug approvals in 2025 reaching its highest level since 2020.
BioMarin to Acquire Alesta Therapeutics for Up to $490 Million
BioMarin Pharmaceutical announced a definitive agreement to acquire clinical-stage biotech Alesta Therapeutics for up to $490 million, including a $275 million upfront payment and $215 million in milestone payments. The deal is structured so that BioMarin effectively acquires Alesta's lead asset ALE1, a phase I/IIa candidate for hypophosphatasia, while Alesta spins out all non-ALE1 assets into a new entity before closing. The boards of both companies have approved the transaction, which is expected to close in the third quarter of 2026 and will be funded with cash on hand. BioMarin expects the deal to be modestly dilutive to 2026 adjusted EPS. The acquisition expands BioMarin's skeletal-disease portfolio, anchored by Voxzogo, and adds an oral HPP treatment that could compete with AstraZeneca's Strensiq, which generated $1.05 billion in first-half 2026 sales.
AstraZeneca Reports Positive Phase III Lung Cancer Trial Results
AstraZeneca reported positive late-stage results for TAGRISSO plus savolitinib in the SAFFRON Phase III trial in difficult-to-treat non-small cell lung cancer. ENHERTU met key goals in the DESTINY-Lung04 Phase III trial with survival benefits in NSCLC patient groups with limited options. The company discontinued development of lung cancer candidate volrustomig after trial results showed a lack of efficacy. These moves highlight how fast lung cancer treatment and related technologies are changing.
AstraZeneca ends late-stage trial of lung cancer drug volrustomig
British pharmaceutical giant AstraZeneca announced it will end a late-stage clinical trial combining volrustomig, being developed for certain types of lung cancer, with chemotherapy. The decision follows a recommendation from an independent data monitoring committee, which concluded that volrustomig plus chemotherapy was unlikely to extend patient survival or delay disease progression compared with Merck's immunotherapy Keytruda plus chemotherapy. AstraZeneca has faced a series of trial failures and setbacks, including an unexpected late-stage failure for heart disease drug Wainua, rejection by US regulators of breast cancer drug camizestrant, and a late-stage failure for rare disease drug Ultomiris, all of which have eroded investor confidence. Meanwhile, the company reported positive results in two other late-stage lung cancer trials, with Tagrisso plus Opdivo and Enhertu, co-developed with Daiichi Sankyo, both meeting their primary endpoints. According to a spokesperson, the discontinued trial accounted for about 20% of volrustomig's peak sales forecast, but would not affect the company's goal of achieving annual revenue of 80 billion dollars by 2030. The company had previously forecast peak sales for volrustomig of more than 5 billion dollars.
ENHERTU improves progression-free survival in first-line HER2-mutant lung cancer trial
AstraZeneca and Daiichi Sankyo announced that ENHERTU demonstrated a statistically significant and clinically meaningful improvement in progression-free survival versus the global standard of care in the DESTINY-Lung04 Phase III trial for first-line treatment of HER2-mutant advanced non-small cell lung cancer. The trial compared ENHERTU against platinum-pemetrexed doublet chemotherapy plus pembrolizumab in 454 patients with unresectable, locally advanced or metastatic non-squamous NSCLC. ENHERTU is the first and only HER2-directed medicine to improve progression-free survival over the standard of care in this setting, and the safety profile was consistent with its known profile with no new safety concerns. The data will be presented at a forthcoming medical meeting and shared with global regulatory authorities.
AstraZeneca halts late-stage lung cancer treatment trial
AstraZeneca has halted a late-stage lung cancer treatment trial after finding its Volrustomig drug, combined with chemotherapy, was unlikely to boost survival rates compared with existing treatments. The decision to stop the phase three trial follows a recommendation from the Independent Data Monitoring Committee after a planned data review. It marks a further setback after the company stopped a trial for its heart disease drug Wainua in July, wiping billions off its market value. AstraZeneca said it will continue trials for volrustomig in other cancers, including cervical cancer, head and neck squamous cell carcinoma, and mesothelioma. The company also reported positive results for its Enhertu treatment in non-small cell lung cancer, which will advance to a phase three trial.
HUTCHMED Announces ORPATHYS Plus TAGRISSO Improved Survival in Lung Cancer Trial
HUTCHMED and AstraZeneca announced positive high-level results from the global Phase III SAFFRON trial showing that ORPATHYS plus TAGRISSO significantly improved progression-free survival and overall survival versus platinum-based chemotherapy in patients with EGFR-mutated non-small cell lung cancer with high MET overexpression or amplification who had progressed on TAGRISSO. The trial enrolled 338 patients across 230 centers in 29 countries, and the safety profile was consistent with the known profiles of each medicine with no new safety findings. The companies plan to present the data at a forthcoming medical meeting and share it with global regulatory authorities. The combination is already approved in China based on the SACHI Phase III trial, and this is the first global Phase III trial to show significant progression-free and overall survival benefits in this setting.
AstraZeneca and Bristol Myers Squibb Discuss Potential Mega-Merger
AstraZeneca and Bristol Myers Squibb have reportedly held talks about a potential merger, a deal that would create a pharmaceutical giant but faces significant hurdles. Analysts note AstraZeneca already has one of the strongest organic growth profiles in pharma, on track to hit $80 billion in annual sales by 2030, and a merger would force it to absorb Bristol Myers Squibb's looming patent cliff on key drugs like Eliquis. The deal could also trigger antitrust scrutiny given both companies' dominance in cancer care, and a straight cash and debt buyout is essentially impossible with Bristol Myers having deal capacity of around $32 billion and AstraZeneca around $37 billion. The discussion comes amid a perception that the current administration is more merger-friendly, potentially encouraging other big pharma companies to pursue defensive mega-mergers.
Royalty Pharma Acquires Neurimmune Royalty Interest in AstraZeneca's Cliramitug
Royalty Pharma has agreed to pay Neurimmune up to $425 million for a 3% to 4% royalty on global net sales of AstraZeneca's cliramitug, an investigational antibody for transthyretin amyloidosis with cardiomyopathy. The deal includes $125 million upfront, another $125 million in the first quarter of 2027, and up to $175 million tied to clinical and regulatory milestones. Cliramitug is in a Phase 3 trial with data expected in 2028, and it is designed to clear existing amyloid deposits rather than just slow progression. Royalty Pharma also raised its full-year 2026 Portfolio Receipts guidance to between $3.325 billion and $3.450 billion after first-quarter receipts rose 10% to $925 million. AstraZeneca reported first-half 2026 revenue growth of 6%, with core operating profit and core EPS both up 11%, and increased its interim dividend by 3 cents to $1.06 per share.
AstraZeneca and Bristol-Myers Squibb call off merger talks
The Financial Times reports that merger talks between British pharmaceutical giant AstraZeneca and US peer Bristol-Myers Squibb have been terminated. The deal would have created one of the world's largest drugmakers with a market capitalisation of around 400 billion dollars. The two sides had been nearing an agreement on a plan for AstraZeneca to buy Bristol-Myers Squibb shares at a premium, aiming for an announcement in mid-August. However, the day after the talks were reported on 3 August, AstraZeneca's board decided to call them off.
AstraZeneca shares plunge 9% on report of merger talks with Bristol-Myers Squibb
AstraZeneca shares suffered their biggest one-day drop since 2020, closing down as much as 9%, after reports emerged that the company held merger talks with U.S. rival Bristol-Myers Squibb. A combined entity would be worth close to $400 billion, making it the fourth-largest drugmaker globally by market value, though neither firm confirmed the discussions and people familiar with the matter told Reuters a deal may never materialize. Investors and analysts reacted with skepticism, with Jefferies analysts saying they were "a bit perplexed" given AstraZeneca's strong growth trajectory under CEO Pascal Soriot, who recently reiterated the company does not need M&A to reach its $80 billion annual revenue target by 2030. Union Investment's Markus Manns called the idea strategically and financially unsound, while ATG Healthcare's Lukas Leu described it as growth-dilutive in the near term. Bristol-Myers Squibb shares initially rose as much as 6% on the news, reflecting a view that the company needs a deal more urgently as its top products Eliquis and Opdivo face looming patent expirations, though BMO's Evan Seigerman warned that antitrust concerns over overlapping cancer drugs could reduce the odds of a successful merger.
Hedge funds increased their holdings in AstraZeneca to $5.5 billion across 56 funds in the first quarter of 2026, up from $4.21 billion and 52 funds the prior quarter, according to Insider Monkey data. The company topped second-quarter profit expectations with core earnings per share of $2.63 versus the $2.48 consensus, and reiterated its $80 billion annual revenue target by 2030. However, the quarter also brought a pipeline disappointment as its rare disease drug Ultomiris missed its main goal in a late-stage trial for a rare blood vessel complication, adding to earlier setbacks including a failed heart drug trial for Wainua and a U.S. regulatory rejection of its breast cancer drug camizestrant. CEO Pascal Soriot expressed confidence in the pipeline, and most analysts including Citi and Bank of America still recommend buying the stock, while investor attention now turns to the AVANZAR lung cancer trial as the next major catalyst.
BioCryst's First Profitable Year Fuels Takeover Speculation, Takeda Tops Buyer List
BioCryst Pharmaceuticals achieved its first full year of profitability in 2025, with second-quarter 2026 revenue rising 34 percent to 218 million dollars, intensifying acquisition speculation. Takeda ranks as the most plausible acquirer because its HAE injectable Takhzyro is directly threatened by BioCryst's pipeline asset navenibart, while AstraZeneca places second through its Alexion rare-disease platform. The company's oral HAE drug Orladeyo generated 158.2 million dollars in quarterly revenue and carries full-year guidance of 625 million to 645 million dollars, and navenibart's pivotal trial data is expected in the third quarter of 2027. BioCryst closed at 9.84 dollars on August 10, 2026, giving it a market capitalization of roughly 2.5 billion dollars, and analysts hold a consensus price target of 20.82 dollars. No deal talks have been confirmed, and private equity interest is seen as secondary to strategic buyers.
AstraZeneca beats Q2 estimates, reaffirms 2026 outlook and $80 billion 2030 revenue target
AstraZeneca reported second-quarter earnings that beat Wall Street expectations and reiterated its full-year 2026 guidance. Core earnings per share rose 18% at constant exchange rates to $2.63, ahead of the $2.48 consensus, while total revenue reached $15.38 billion, up 5% at constant exchange rates. Oncology revenue grew 16% to $7.33 billion, driven by Tagrisso, Imfinzi, and Enhertu, and Rare Disease contributed $4.9 billion, offsetting a 15% decline in the Cardiovascular, Renal & Metabolism segment due to Farxiga's loss of exclusivity in the U.S. and China pricing pressures. Management expressed confidence in reaching its $80 billion total revenue target by 2030 despite near-term headwinds. Separately, a Phase 3 study of Ultomiris in hematopoietic stem cell transplant-associated thrombotic microangiopathy failed to meet its primary endpoint, which H.C. Wainwright called a positive for competitor Omeros.
Eli Lilly, Novo Nordisk, and Pfizer lead healthcare news after quarterly results
Eli Lilly, Novo Nordisk, and Pfizer were among the notable healthcare companies reporting quarterly results this week. Eli Lilly posted better-than-expected second-quarter results driven by its GLP-1 drugs, with revenue of $23 billion beating consensus by $2.3 billion, and raised its full-year revenue guidance to a range of $85.0 billion to $87.0 billion, though the midpoint fell short of the $85.4 billion consensus. Novo Nordisk lifted its full-year outlook for the second time this year on GLP-1 strength, now expecting sales and operating profit to decline by no more than 6% at constant exchange rates, but its U.S.-listed shares fell as much as 6%. Pfizer topped second-quarter expectations with adjusted earnings per share of $0.77 and revenue of $15.03 billion, and raised its full-year revenue guidance by $500 million at the midpoint to $60.5 billion to $62.5 billion. Merck also reported better-than-expected second-quarter results and raised its full-year revenue guidance to $66.3 billion to $67.3 billion, but lowered its adjusted earnings per share forecast to $2.66 to $2.76, below the $2.76 consensus, due to charges from its Terns acquisition. Bristol-Myers Squibb fell after a Reuters report said there are no discussions with AstraZeneca about a potential deal, contradicting earlier reports of preliminary merger talks. Integer Holdings agreed to be acquired by KKR in an all-cash deal valued at approximately $5.7 billion, with stockholders receiving $127.00 per share. The S&P 500 Health Care Index Sector gained 1.92% during the week, with Charles River Laboratories and Veeva Systems among the top gainers, while DaVita and Insulet were among the top losers.
AstraZeneca Signs Two Cancer Diagnostics Deals to Widen Patient Access
AstraZeneca has entered a global partnership with SOPHiA GENETICS to develop and launch two decentralized companion diagnostics in precision oncology. The multi-year collaboration focuses on clinical trial assays that support the development and commercialization of AstraZeneca's oncology therapies, aiming to expand access to personalized cancer treatments by enabling decentralized testing across a wider range of clinical settings. The agreement gives AstraZeneca access to SOPHiA GENETICS's decentralized Solid Tumor and Hematological Oncology diagnostic platforms for use as companion diagnostics, linking its oncology drugs directly to assays that can run in more hospitals rather than only central labs. This can support uptake of existing and future cancer therapies where treatment decisions rely on accurate biomarker testing, and ties real-world data generation more tightly to its portfolio. The partnership fits AstraZeneca's narrative around oncology approvals, late-stage assets, and use of data and technology to support precision medicine, and follows other alliances like Pathos AI.
UK Expands Researcher Visa to Companies, Covering Over 100 Firms Including AstraZeneca
The UK government announced on the 6th that it will expand the Global Talent visa scheme, which attracts scientists, researchers, and engineers, to cover over 100 of the country's most innovative companies, including AstraZeneca and Jaguar Land Rover. The government explained that making it easier to accept researchers will help develop clean energy, life sciences, and artificial intelligence sectors as part of efforts to reindustrialize. Research-intensive companies will now be able to use a visa scheme that has mainly been utilized by universities and research institutions. The government also revealed plans to expand another scheme that provides visas for companies working on critical technologies such as quantum technology and engineering biology.
The London stock market closed slightly higher on Wednesday, with the FTSE 100 ending at 10,888.30 points, up 8.92 points or 0.08%, supported by strong earnings from Glencore and Next. Glencore shares surged 4.1% after reporting first-half profit up 86%, beating expectations, along with plans for an additional listing on the Australian stock exchange. Next shares jumped 6.9%, the most in the index, after raising its full-year profit forecast for the third time. AstraZeneca shares rose 2.9% after denying reports of takeover talks with Bristol Myers Squibb. Banking stocks fell, with Prudential down 6.4% and HSBC down nearly 5% following reports that China has started taxing income from overseas insurance policy returns. Energy stocks dropped 1.5%, tracking volatile oil prices amid uncertainty in the Middle East.
Royalty Pharma Raises 2026 Guidance After Strong Q2 Growth
Royalty Pharma raised its full-year 2026 guidance for the second consecutive quarter, now expecting portfolio receipts of $3.4 billion to $3.5 billion and royalty receipts growth of 7% to 10%. Portfolio receipts grew 6% in the second quarter to $773 million, while total receipts rose 14%, driven by strong performances from Tremfya, Voranigo, Emdeltra, and Evrysdi. The company reported a return on invested capital of 14.2% and return on invested equity of 20.1% over the last twelve months. Capital deployment reached $349 million in the quarter, primarily for royalty funding for daraxonrasib and research and development funding for Johnson & Johnson's 4804 and litufilimab. Royalty Pharma also highlighted the acquisition of a 3.75% royalty on AstraZeneca's cliramitug, a potential blockbuster for ATTR-CM, with peak annual royalty potential of $110 million to $190 million.
Global stocks surge on easing US-Iran tensions, oil drop fuels risk appetite
US stocks closed at a record high, with the Dow jumping 693.38 points after US-Iran tensions eased, sending WTI crude down over 5% and US Treasury yields lower. Communication services led the rally, surging 4.3%, driven by Meta Platforms and Alphabet, while Amazon climbed 4.6%, pushing its market value past 3 trillion dollars for the first time. In Europe, the STOXX 600 index closed up 0.45%, with aerospace and defense stocks jumping 2.7%. AstraZeneca tumbled 9% on reports of a merger deal worth over 400 billion dollars with Bristol Myers Squibb, dragging the healthcare sector down 1.7%. Asian markets mostly rose this morning, led by South Korea's KOSPI, which gained 1.5% after President Trump called off plans to strike Iran, easing energy supply and inflation concerns. The Thai stock market has a chance to recover, with BANPU resuming trading as a new entity after completing its merger with BPP, aiming to diversify away from coal and expand into data centers and energy storage systems.
AstraZeneca in advanced merger talks with Bristol Myers Squibb for $400 billion deal
AstraZeneca is reported to be in advanced merger talks with Bristol Myers Squibb, a deal that could create a combined pharmaceutical company valued at about US$400 billion. The potential transaction would rank among the largest in the sector and significantly affect competitive positions in oncology, though regulators are expected to review any agreement closely due to overlapping product portfolios. A combination would bring together large pipelines and marketed therapies in cancer, immunology, cardiovascular, and rare diseases, reshaping how AstraZeneca competes with rivals like Pfizer, Merck, and Roche. Investors are cautioned that the discussions remain in a preliminary phase, and any deal would likely require divestments to address antitrust concerns, particularly in the U.S. market where Bristol Myers is firmly established.
Labcorp Launches First FDA-Approved PTEN Companion Diagnostic for Prostate Cancer
Labcorp announced the nationwide availability of Roche's VENTANA PTEN (SP218) RxDx Assay, the first FDA-approved immunohistochemistry companion diagnostic to detect PTEN protein loss in prostate adenocarcinoma tumors. The assay helps identify patients who may be eligible for treatment with AstraZeneca's TRUQAP in combination with abiraterone acetate and prednisone. PTEN loss is associated with more aggressive disease and reduced benefit from standard therapies, and until now no approved treatments specifically targeted this biology. Labcorp participated in Roche's early access program to ensure Day 1 laboratory readiness, and the test is now available through Labcorp's national network, complementing its comprehensive oncology testing portfolio.
Dow surges to record high as US-Iran tensions ease, sending oil down over 5%
The Dow Jones Industrial Average surged to a record high on Monday after tensions between the United States and Iran eased, leading to a decline in oil prices and US Treasury yields. The Dow closed at 53,178.41, up 693.38 points or 1.32 percent. The S&P 500 ended at 7,600.50, up 1.48 percent, and the Nasdaq finished at 25,913.90, up 2.13 percent. European stocks also closed higher, supported by falling oil prices, with the STOXX 600 ending at 652.09, up 0.45 percent. However, the London market edged lower, weighed down by a sharp drop in AstraZeneca shares following reports of merger talks with Bristol Myers Squibb. West Texas Intermediate crude futures tumbled more than 5 percent to settle at 80.34 dollars a barrel after President Donald Trump announced the cancellation of plans to attack Iran and confirmed negotiations. Meanwhile, COMEX gold futures fell 16.50 dollars to close at 4,090.50 dollars an ounce, and the US dollar weakened against the yen after Japan and the United States intervened in the foreign exchange market.
FTSE 100 closes down 0.1% as AstraZeneca shares tumble on merger news
The FTSE 100 index closed 0.1% lower on Monday, weighed down by a sharp drop in AstraZeneca shares following reports of merger talks with US drugmaker Bristol Myers Squibb. AstraZeneca shares plunged 8.9%, making it the biggest faller in the index, after reports that the two companies are in discussions to create one of the world's largest pharmaceutical firms worth around 400 billion US dollars. Meanwhile, housebuilder stocks rose as UK government bond yields fell, with Vistry Group jumping nearly 8%, and Bellway and Persimmon gaining 2.8% and 2.1% respectively. Clarkson shares surged 8.9%, the most in the London market, after the company issued a positive outlook for full-year results.
European Stocks Close Higher on Falling Oil Prices and Hopes for End to Iran War
European stock markets closed higher on Monday, supported by a drop in oil prices as investors grew hopeful that diplomatic efforts to end the Iran war would resume. The STOXX 600 index closed at 652.09 points, up 2.90 points or 0.45 percent, while France's CAC-40 rose 1.22 percent, Germany's DAX gained 1.45 percent, and London's FTSE 100 slipped 0.10 percent. Crude oil futures plunged more than 4.5 percent after President Donald Trump decided to delay new strikes on Iran and push forward with a deal to limit Iran's nuclear program, as well as reopen the Strait of Hormuz. Travel and leisure stocks rose 0.6 percent, while aerospace and defense stocks surged 2.7 percent. However, AstraZeneca shares tumbled 9 percent, the biggest drop on the STOXX 600, following reports of a possible 400 billion dollar merger with Bristol Myers Squibb, dragging the healthcare sector index down 1.7 percent.
US Stocks Extend Gains, Dow Hits Record High on Renewed Iran Peace Talks
US stocks extended their rally, with the Dow Jones Industrial Average closing up 693.38 points at 53,178.41 and the Nasdaq Composite up 540.05 points at 25,913.90. Investor sentiment improved after President Trump called off a planned large-scale attack on Iran over the weekend and announced a resumption of negotiations, sending stocks higher after the open. A rise in the ISM manufacturing index, lower oil prices, and falling interest rates also provided a tailwind, pushing the Dow to a new all-time high. By sector, media and entertainment as well as software and services gained, while energy declined. Among individual stocks, Bristol Myers Squibb rose on reports of merger talks with AstraZeneca, and Boeing advanced on certification of the 737 Max 10. AMC Entertainment and IMAX were bought up after setting new weekend box office records, but Marriott fell after its third-quarter outlook missed expectations. Palantir Technologies and ON Semiconductor were being bought in after-hours trading following their earnings releases.
Mizuho Analyst Says AstraZeneca-Bristol Myers Deal Could Unlock Major Cost Cuts
Mizuho Securities healthcare sector specialist Jared Holz argued on CNBC that a potential acquisition of Bristol Myers Squibb by AstraZeneca could make financial sense if the combined company aggressively cuts costs. Holz said that if AstraZeneca slashes expenses and aggregates the assets, the deal is not totally unreasonable, especially if it views Bristol Myers' R&D pipeline as decent. Bristol Myers has a $2 billion cost-savings program targeting completion by the end of 2027 and trades at a discounted forward P/E of roughly 10, while AstraZeneca has a market cap of about $263 billion and Bristol Myers about $132 billion. Holz noted that Eli Lilly's $1 trillion-plus market cap is pressuring rivals like Merck to pursue deals ahead of patent cliffs, and he believes antitrust risk is low given the pharmaceutical industry's fragmentation and an administration open to large corporate deals.
The FTSE 100 underperformed European peers on Monday as a 9% slump in AstraZeneca, the index's second-largest company by market value, outweighed broader gains spurred by falling oil prices. The FTSE 100 closed down 0.1% at 10,857.70, while the FTSE 250 rose 1.0% and the AIM All-Share added 0.8%. AstraZeneca's drop followed a Financial Times report that it held merger talks with US peer Bristol-Myers about a potential 400 billion dollar deal, which analysts at Jefferies and Bank of America viewed with skepticism. Brent oil fell to 83.92 dollars a barrel after President Trump said he was holding off on new attacks on Iran, easing inflation fears and pushing US 10-year Treasury yields down to 4.69%. Among other movers, Clarkson surged 9.0% to an all-time high after forecasting full-year performance materially ahead of expectations, while InterContinental Hotels Group fell 2.2% after mixed results from US peer Marriott.
Dow futures jump 547 points ahead of busy earnings week
Dow Jones futures surged 547 points, or 1%, ahead of a busy week on Wall Street, while Nasdaq futures were flat as investors weighed whether Friday's tech rebound can continue. The S&P 500 is expected to gain 0.5% at the open. Last week, the Nasdaq rose 1% to 25,373, the S&P 500 added 0.7% to 7,489, and the Dow gained 0.5% to 52,485, recovering from a difficult July that saw the Philadelphia Semiconductor Index tumble 20.6% and the Nasdaq drop 3.2%. Attention is also on the yen, which strengthened another 0.5% to 156.60 per dollar after the first coordinated US-Japan currency intervention since 2011, with Tokyo reportedly spending almost $59 billion buying yen on Thursday. About 20% of S&P 500 companies report earnings this week, including AMD, Caterpillar, McDonald's, Eli Lilly, Disney, Uber, Airbnb, and Berkshire Hathaway. Ahead of the open, Bristol Myers Squibb shares rose over 4% on a Financial Times report that AstraZeneca is in talks to buy the US rival.
Alibaba, Bristol-Myers Squibb, and eBay lead premarket movers
Several stocks made notable premarket moves on Monday. U.S.-listed shares of Alibaba gained 4% after the company unveiled its new Qwen3.8-Max AI model, one of the most powerful in its portfolio, set for official release next week. Bristol-Myers Squibb jumped more than 5% while AstraZeneca fell more than 4% following a Financial Times report that the two pharmaceutical companies were in merger talks. eBay tumbled more than 3% after Wells Fargo downgraded the stock to underweight from equal weight, citing that the acquisition of Depop will lead to weaker earnings in fiscal year 2027 and potentially increased marketing spend. Ferguson Enterprises rose nearly 8% on news it will join the S&P 500, replacing Electronic Arts before the opening bell on Wednesday. ArcelorMittal was up more than 2% after announcing a deepened technology partnership with Microsoft, whose Azure platform will modernize the steelmaker's systems. Memory stocks were broadly lower, with SanDisk and Micron Technology down more than 3% and Seagate Technology off 2.5%. Circle Internet Group declined 5% after Morgan Stanley downgraded the stablecoin issuer to underweight, pointing to tactical and structural headwinds including a weaker outlook for USDC in circulation in 2027.
UK Stocks Mixed as Oil Prices Tumble and Manufacturing PMI Eases
UK stocks turned in a mixed performance Monday morning as investors made cautious moves despite easing geopolitical tensions and a sharp drop in oil prices. The FTSE 100 edged down 2.70 points, or 0.02%, to 10,865.35, while Brent crude futures tumbled nearly 5% before recovering to $83.60 a barrel. AstraZeneca dropped 5.2% on reports of merger talks with Bristol Myers Squibb, and IG Group Holdings fell 5.6%. The S&P Global UK Manufacturing PMI eased to a four-month low of 51.9 in July from 52.5 in June, though it remained above the 50 mark for a ninth straight month.
Compugen expects COM701 ovarian cancer trial interim data by Q1 2027
Compugen reported second quarter 2026 results and said its MAIA-ovarian trial of COM701 in platinum-sensitive ovarian cancer is progressing as planned, with median progression-free survival data from the interim analysis expected by the first quarter of 2027. The company presented a trial-in-progress poster at the ESMO Gynaecological Cancers Congress 2026 reinforcing the biological and clinical rationale for COM701 in this setting. Partner AstraZeneca presented new data at ASCO 2026, including the first overall survival readout from the GEMINI-Hepatobiliary study of rilvegostomig in first-line biliary tract cancer, showing median overall survival of 16.8 months. The Gilead-partnered GS-0321 Phase 1 trial also continues to progress as planned. Compugen ended the quarter with approximately $125.3 million in cash and equivalents and expects its cash runway to fund operations into 2029.
US stock futures rise on Middle East deal hopes and healthcare merger talks
U.S. stock index futures edged higher on Monday as signs of easing Middle East tensions weighed on crude prices and a potential mega-merger in healthcare lifted sentiment. Bristol Myers Squibb shares rose 8% in premarket trading after a report said it held preliminary merger talks with AstraZeneca, which could create one of the world's largest drugmakers worth nearly $400 billion, while AstraZeneca slid 6%. Brent crude fell 5.7% to $83.77 a barrel after President Trump said talks with Iran to reopen the Strait of Hormuz would occur during the day. Dow E-minis were up 329 points, or 0.63%, S&P 500 E-minis added 36.75 points, or 0.49%, and Nasdaq 100 E-minis gained 151 points, or 0.53%. Traders also looked ahead to a busy week of earnings from AI-linked companies and key labor market data, including the official non-farm payrolls report on Friday.
AstraZeneca and Bristol Myers in talks on $400 billion merger
AstraZeneca and Bristol Myers Squibb are reportedly in talks over a $400 billion deal to combine the companies, according to the Financial Times. Neither company has disclosed any details of the merger, and deal closure timelines are unclear. Both firms have significant overlap in oncology, with Bristol Myers Squibb's Opdivo and AstraZeneca's Imfinzi competing in indications including lung, kidney, bladder, and liver cancers. If completed, the megadeal would be one of the largest mergers in biotech history. For the second quarter of 2026, AstraZeneca's total revenue rose to $15.38 billion from $14.46 billion a year earlier, while Bristol Myers Squibb's revenue increased to $12.97 billion from $12.27 billion.
Datroway Approved in EU as First-Line TNBC Therapy with Overall Survival Benefit
Datroway has been approved in the European Union as monotherapy for the first-line treatment of adult patients with unresectable or metastatic triple negative breast cancer who are not candidates for PD-1/PD-L1 inhibitor therapy. The approval is based on the TROPION-Breast02 phase 3 trial, where Datroway demonstrated a statistically significant and clinically meaningful 5.0 month improvement in median overall survival versus investigator's choice of chemotherapy, with a median overall survival of 23.7 months compared to 18.7 months. Datroway also reduced the risk of disease progression or death by 43% and achieved an objective response rate of 62.5% versus 29.3% for chemotherapy. The safety profile included serious adverse reactions in 17% of patients, with one fatality attributed to interstitial lung disease/pneumonitis. Datroway is now the only TROP2 directed antibody drug conjugate approved in the EU with an overall survival benefit in the first-line setting, and it has been included in ESMO Clinical Practice Guidelines as a Category IA first-line treatment option.
Alnylam Cuts 2026 Revenue Guidance as AMVUTTRA Second-Line Demand Normalizes
Alnylam Pharmaceuticals lowered its full-year 2026 product revenue guidance, citing a normalization of second-line demand for its ATTR cardiomyopathy therapy AMVUTTRA. Total net product revenue guidance was revised to $4.7 billion to $5.1 billion, down from the prior range of $4.9 billion to $5.3 billion, driven by a $200 million reduction at the midpoint in TTR revenue guidance to $4.2 billion to $4.5 billion. CFO Jeff Poulton explained that early second-line demand growth in 2025 benefited significantly from pent-up demand that has since normalized, causing actual 2026 volumes to fall below initial expectations. Despite the revision, second-quarter TTR net product revenues exceeded $1 billion for the first time, reaching $1.03 billion, an 89% increase year-over-year, and AMVUTTRA achieved an annual run rate of over $4 billion just 15 months into the cardiomyopathy launch. The company emphasized that approximately 80% of new treatment initiations are now first-line starts, and it remains confident in long-term growth, supported by a favorable competitive landscape including the clinical failure of AstraZeneca's eplontersen and the delay of generic tafamidis entry in the U.S. until mid-2031.
AstraZeneca reports positive Sone Ve gastric cancer data and mixed Ultomiris results
AstraZeneca reported positive Phase III results for sonesitatug vedotin in Claudin 18.2-positive advanced gastric cancer, showing an improvement in overall survival, while also sharing mixed data for Ultomiris in post-stem cell transplant thrombotic microangiopathy, with benefit in paediatric patients but the adult trial not meeting its primary endpoint. The stock trades around £129.4, up 18.0% over the past year and 73.3% over five years, though down 9.6% over the past month. The strong gastric cancer outcome and more mixed Ultomiris signal may influence how investors weigh future trial updates and regulatory milestones across the oncology and rare disease portfolios.