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Gilead shares rise on report of AstraZeneca's interest in megamerger


Gilead and Astrazeneca

Shares of Gilead Sciences Inc rose as much as 3% on Monday after a report said the U.S. drugmaker had been approached by Britain’s AstraZeneca for a possible merger to form one of the world’s largest drug companies.


AstraZeneca contacted Gilead last month but the U.S. company, which is testing its drug remdesivir as a COVID-19 treatment, was not interested in combining with another big drugmaker, Bloomberg reported.


Gilead’s shares, which have risen about 18% this year through Friday’s close, pared some of their premarket gains after CNBC reported citing sources that the companies were not in active talks.


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