AstraZeneca is approaching Gilead about a potential merger – the healthcare deal on record

UK drugmaker AstraZeneca has approached Gilead about a potential merger, a healthcare deal that is expected to be the largest on record, sources told Bloomberg on Sunday.

In May, AstraZeneca reportedly asked Gilead about a merger but did not provide terms on the transaction, according to anonymous sources.

AstraZeneca is worth $140 billion and Gilead, which is working on an antiviral drug called remdesivir to treat coronavirus patients, is valued at $96 billion.