The Financial Times reported on August 2 that AstraZeneca has held talks with Bristol Myers Squibb about a possible combination that could create a pharmaceutical group valued near US$400 billion. AstraZeneca declined to comment on the reports while Bristol Myers Squibb did not respond to a Reuters inquiry. The reported discussions follow Bristol Myers Squibb's prior acquisitions, including Medarex in 2009, and come more than a decade after AstraZeneca resisted a takeover bid by Pfizer.