AstraZeneca has held talks with US rival Bristol Myers Squibb over a merger which could create a drugs giant worth more than £300billion. A tie-up between the two firms, which have reportedly held discussions in recent months, would create the world's fourth-largest pharmaceutical company. While a deal could improve AstraZeneca's standing in the US market, it will add to escalating fears that British firms are increasingly eyeing the exit from their home turf. Any deal is likely to face significant regulatory hurdles, amid growing scrutiny of the sector from competition and antitrust watchdogs. Soriot told reporters last week that AstraZeneca did not 'need M&A to deliver' on its 2030 revenue target.