Pfizer CEO Ian Read on Sunday described the company's new proposal for AstraZeneca as "compelling" and cautioned that the American drugmaker would walk away if AstraZeneca didn't accept it.

Pfizer Inc.'s chief executive Ian Read on Tuesday acknowledged that a potential takeover of AstraZeneca would lead to job losses, but it assured that the company's British research jobs would be kept in the country.

The potential takeover of British pharmaceuticals firm AstraZeneca by American drugs giant Pfizer has raised concerns about the future of British firm's employees.