Senior Correspondent, London
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May 13, 2014
May 13, 2014
May 13, 2014

Pfizer hints at improved Astra offer as CEO heads into political grilling

LONDON (Reuters) – U.S. drugmaker Pfizer (PFE.N: Quote, Profile, Research) hinted it could make a higher offer for Britain’s AstraZeneca as the New York-based group’s boss went into a meeting with UK lawmakers on Tuesday at which he was expecting to be grilled over promises on British jobs.

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.

May 13, 2014

Pfizer boss enters lion’s den of UK politics to sell AstraZeneca deal

LONDON, May 13 (Reuters) – 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.

May 12, 2014
May 12, 2014

Pfizer presses AstraZeneca case as CEO faces UK grilling

LONDON (Reuters) – U.S. drugmaker Pfizer pressed the scientific case for its controversial plan to acquire AstraZeneca on Monday as its chief executive prepared for a grilling from British lawmakers.

In the latest phase of Pfizer’s campaign to counter critics of its proposed $106 billion deal, research head Mikael Dolsten said he had been through five different mergers and acquisitions and denied such big transactions disrupted drug research.

May 12, 2014
May 11, 2014
May 11, 2014

UK labs play shrinking role in AstraZeneca drug portfolio

LONDON (Reuters) – How British is AstraZeneca? With a French chief executive, Swedish chairman, 40 percent of its sales in the United States and 87 percent of its staff overseas, the answer is not simple.

Formed from an Anglo-Swedish merger 15 years ago, even its roots are only half British. Yet a $106 billion takeover bid from U.S. group Pfizer has forced politicians at Westminster to line up in defense of British jobs and science.

May 10, 2014
    • About Ben

      "Ben Hirschler is European pharmaceuticals, biotechnology and healthcare correspondent, based in London. Previously, he was in charge of British company news and before that was posted to Johannesburg, covering the economic challenges facing post-apartheid South Africa."
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