NEW YORK/ LONDON : AstraZeneca Plc has approached rival drugmaker Gilead Sciences Inc. about a potential merger, according to people familiar with the matter, in what would be the biggest health-care deal on record.The UK-based firm contacted Gilead last month about a possible tie-up, the people said, asking not to be identified because the details are private.
AstraZeneca didn’t specify terms for any transaction, they said. While Gilead has discussed the idea with advisers, no decisions have been made on how to proceed and the companies aren’t in formal talks, the people added.AstraZeneca, valued at $140 billion, is the UK’s biggest drugmaker by market capitalization and has developed treatments for conditions from cancer to cardiovascular.