13
May
2014

VIDEO: Pfizer Boss Enters Lion’s Den Of UK Politics To Sell AstraZeneca Deal

The boss of U.S. drugmaker Pfizer faces UK lawmakers on Tuesday with a promise and a threat to protect British jobs in his proposed joint creation with AstraZeneca of a global powerhouse upon which he says the latter’s future depends. Ian Read faces hostile questions in parliament over his proposed $106 billion play for AstraZeneca. He goes into committee hearings having pledged to keep a fifth of research jobs in Britain, and warned the country’s second biggest drugmaker could wither without Pfizer’s financial muscle. Pfizer’s bid would be the largest foreign takeover of a British firm and is opposed by many scientists and politicians, as well as AstraZeneca itself.

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