Yes, it would be among the biggest pharma deals of all time. Yes, it's $101 billion—more than half of Pfizer's market cap. And yes, the target is a company with projected revenue declines of 7.6 percent in the next five years due to patent expirations.
But analysts say Pfizer's reported $101 billion bid for AstraZeneca makes some sense. And that's despite the fact that reports from the Sunday Times of London and Bloomberg News both say the talks may have taken place as long as a few months ago, and have since fizzled—an important point.
However, if Pfizer did approach the London drugmaker, it may mean the company is not opposed to executing its fourth megamerger—with AstraZeneca or another company.