Why an AZ-Gilead megadeal doesn’t make sense for investors

While neither AstraZeneca nor Gilead has quashed rumors of merger discussions that circulated over the weekend, investors in both companies should hope the chatter amounts to nothing.

Both companies declined to comment on a Bloomberg report that said AstraZeneca plc (LSE:AZN; NYSE:AZN) approached Gilead Sciences Inc. (NASDAQ:GILD) about a deal, and said the latter company was not interested in a transaction.

AZ is the current darling of its pharma peers with high top-line growth backed by a cancer franchise that has

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