Bristol-Myers Drops on Dashed Deal Hopes

Shares fell Monday after press reports that a potential merger with Sanofi had unraveled

Wall Street players have long wondered if a merger between Franco-German drugmaker Sanofi-Aventis (SNY) and New York-based Bristol-Myers Squibb (BMY) might enable the two to create the world's largest drugmaker, vaulting Sanofi past Pfizer (PFE) and Britain's GlaxoSmithKline (GSK). But investors sold Bristol-Myers shares on Feb. 12 after a report that the long-rumored merger talks fell apart.

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