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Pfizer Inc. (PFE)'s History In U.K. Offers Hope For AstraZeneca PLC (AZN) Jobs


5/12/2014 4:20:50 AM

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May 12, 2014 -- U.K. politicians have reacted warily to Pfizer Inc. PFE -0.48% 's unsolicited $106 billion takeover offer for AstraZeneca PLC, fearful that the U.S. company might slash British jobs. But a look at a site of past Pfizer job cuts in England shows a resilient employment market in life sciences that doesn't necessarily depend on big-company payrolls to thrive.

AstraZeneca rejected Pfizer's informal offer of £50 ($84.26) a share more than a week ago, and the companies have held no talks since. Still, politicians are planning special parliamentary hearings this week, which are likely to focus on commitments to U.K. jobs.

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