Two state leaders express concerns over Pfizer’s potential takeover of AstraZeneca
Governors of Delaware and Maryland have expressed their concerns over the impact of Pfizer Inc.'s proposed takeover of British pharmaceuticals giant AstraZeneca on workers as well as the states' economies.
AstraZeneca employs nearly 2,600 people in Delaware and another 3,100 in Maryland. Thus any change in the company's workforce after an acquisition by a foreign company is bound to have a significant impact.
Expressing their concerns, Delaware Governor Jack Markell and Maryland Governor Marton O'Malley wrote in a joint letter to Pfizer Chairman & CEO Ian Read, "We are very concerned by Pfizer Inc.'s efforts to acquire AstraZeneca. Despite our requests, we have received no corresponding assurances about retaining jobs and research and development in our states."
Pfizer Chairman & CEO Ian Read has already declared that there was no guarantee that British jobs at the company would not be outsources to other countries.
Meanwhile, Questor has suggested that AstraZeneca shareholders should demand at least £100 per share from the U. S.-based Pfizer. It underlined AstraZeneca has one of the world's most promising drug pipelines for the treatment of deadly disease cancer.
AstraZeneca does not have just one cure for cancer. It has three cancer cures in the final stage of testing, while another twenty are at their earlier stages of development. The three cancer drugs that are in the final stages of testing could add up to $12 billion in additional revenue per year.
Questor stressed that it is not interested in political arguments or nationalism; rather it is interested value and common sense. It suggested that AstraZeneca shareholders should turn down Pfizer's offer in case they do not get £100 per share. The company maintained its buy recommendation on AstraZeneca stock.