Pfizer Inc. AstraZeneca PLC Takeover Attempt Have R&D Scientists Worried

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Battle lines are being drawn over what would be the biggest foreign takeover of a British company, after the pharmaceutical firm AstraZeneca rejected a £60bn approach from its US rival Pfizer. Pfizer’s interest prompted a warning on jobs from Vince Cable but was welcomed by investors, who sent stock in Britain’s largest drug maker up by 14%. The business secretary said he was committed to maintaining the UK’s position in the pharmaceutical industry as Downing Street took a neutral stance on a mooted deal that could end in a hostile takeover bid from Pfizer in the wake of AstraZeneca’s rebuff.

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