Pfizer writes to PM to calm AstraZeneca takeover fears

Pfizer, the US pharmaceuticals giant which today raised its offer for UK rival AstraZeneca, has written to Prime Minister David Cameron in an attempt to appease fears over the impact of any takeover.

The group - which made a revised offer of £50 per share for AstraZeneca - told the PM it would make a number of concessions if any deal was approved in order to protect an industry that is crucial to the UK. "We recognize that our approach may create uncertainty for the UK Government and scientific community given the strategic importance of life sciences to the Government's Industrial Strategy and the significance of the transaction," it said. "We would therefore like to assure the Government of our long term commitment to the UK where Pfizer already employs a significant number of c...