On August 3, Bristol-Myers Squibb rose 3.74% in pre-market trading, trading at $67.69/share, with turnover of $384,700.

On the news front, AstraZeneca has reportedly been in preliminary discussions with Bristol-Myers Squibb regarding a potential merger that could value the combined entity at approximately $400 billion, potentially making it one of the largest transactions in pharmaceutical industry history. The deal would create one of the world's largest drugmakers and reflects the trend of major pharmaceutical companies pursuing M&A to expand innovative drug pipelines amid patent expiration and rising R&D cost pressures.

Bristol-Myers Squibb is preparing for patent expirations on key products including blood thinner Eliquis and cancer drug Opdivo, which together account for roughly half of the company's sales. The merger talks come on the heels of an exceptionally strong Q2 report last week, in which Bristol-Myers Squibb posted record quarterly revenue of $12.97 billion versus estimates of $11.75 billion, and adjusted EPS of $2.04 far exceeding the $1.59 consensus. Full-year guidance was also raised significantly to $49-50 billion from prior expectations of $46-47.5 billion.

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