Pfizer says AstraZeneca deal could help save lives

14th May 2014 12:27

US drugmaker Pfizer on Wednesday defended its proposed takeover of British firm AstraZeneca, saying it could lead to a 'better outcome' for patients.Head of research and development Mikael Dolsten told MPs that merging the two businesses could help prolong the lives of cancer patients despite admitting there would be fewer scientists, according to the BBC.The news comes amid concerns the takeover would hurt British jobs and delay drug development. Pfizer boss Ian Read hit back on Wednesday, telling MPS a deal with AstraZeneca could accelerate the delivery of products to patients, Sky News reported. "There is absolutely no truth to any comment that some products of critical nature would be delayed getting to patients," he said.His remarks came a day after AstraZeneca Chief Executive Pascal Soriot told MPs that patients could die as a result of disruption."What would we tell the person whose father died of lung cancer because one of our medicines was delayed because the companies were too busy saving taxes, saving costs?"MPs also laid out their concerns over the potential job losses among AstraZeneca's 6,700 British-based staff and the effect it would have on British science.Read reiterated that 20% of the new firm's research and development workforce would be based in the UK if the £63bn proposed bid for AstraZeneca was successful. He said the guarantee was legally binding for five years, under takeover panel rules.AstraZeneca has turned down Pfizer's bid as it felt the offer was not valued high enough.RD