Potential Impact On R&D If Pfizer Inc. Succeeds In Taking Over AstraZeneca PLC

Employees of Pfizer and AstraZeneca were jarred on Easter Sunday morning with The Sunday Times story that Pfizer is mulling a takeover of AstraZeneca (AZ). For those Pfizer PFE +0.68% folks who have been with the company since 2000, they have already weathered the major acquisitions of Warner-Lambert, Pharmacia and Wyeth, each time dealing with integration, reorganization, and the inevitable “synergies” i.e., the drastic reductions in staff and infrastructure needed to justify the billions spent in each acquisition. AZ is no stranger to this behavior, itself being formed by the merger of Astra and Zeneca in 1999. In addition AZ has made significant acquisitions such as their addition of Medimmune in 2007.

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