Skip to main content

Pfizer argues for AstraZeneca deal in web videos

BERNARD CONDON
AP Business Writer

NEW YORK (AP) — Pfizer has posted videos on its website in its latest effort to win over critics of its offer to buy British drugmaker AstraZeneca.

In the videos, Pfizer CEO Ian Read seeks to ease fear that the deal would lead to a loss of stature in science in the United Kingdom. He says Pfizer has expanded its research program in Cambridge, Massachusetts, and envisions a similar strategy for Britain’s Cambridge, north of London, where many scientists work.

Pfizer has been trying to buy its British rival since January, but has been rebuffed three times. AstraZeneca says Pfizer’s latest offer of $106 billion in cash and stock undervalues the company.

The proposed deal has drawn scrutiny from politicians on both sides of the Atlantic who fear a loss of jobs.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Emergency guide: What you should do to prepare for emergencies

WASHINGTON — Do you know what you'd do if an emergency hits? What if you're at work, your spouse is stuck in traffic and your children are in school? There's no way to plan for every emergency, but you can make sure you're prepared for different scenarios, including making a plan for your family and building a kit of emergency supplies.
Read Next Story