While both drugmakers face looming patent cliffs, analysts say joining forces could help Bristol Myers Squibb replenish its eroding portfolio—while the strategic case for AstraZeneca seems to be more mixed.

AstraZeneca shares were slumping while Bristol-Myers Squibb’s stock was jumping on Monday on reported deal talks. But the big question is why these two pharmaceutical giants would want to come together in the first place.

AstraZeneca, Jaguar Land Rover among 100+ companies to benefit, luring talent amid Trump's immigration crackdown.

AstraZeneca and CSPC Pharmaceutical are strengthening their partnership by establishing a new biologics manufacturing joint venture in China.  | AstraZeneca and CSPC Pharmaceutical are strengthening their partnership by establishing a new biologics manufacturing joint venture in China.

AstraZeneca and Jaguar Land Rover are among the employers that can use the £766 visa, which typically delivers a decision within three weeks.

Astra's stock climbed 2.5% or 296p to 12,036p after Reuters quoted a senior source at the business quashing rumours of any potential tie-up.

There is no substance to the rumours of a $400 billion mega-merger between AstraZeneca and Bristol Myers Squibb, according to a source cited by Reuters.