Pfizer Undertaking On Astra Zeneca Not Bankable As Similar Undertakings Given By Us Multinationals Before Have Proved To Be Worthless Says GMB
UK Government must make clear that it will refer this bid to the competition authorities to support Astra Zeneca as an independent UK based research company says GMB.
GMB, the union for staff at Astra Zeneca, commented the new bid in the hostile takeover bid for the company from US based Pfizer and the talks between Pfizer and the UK Government.
Allan Black, GMB National Officer for the chemicals industry, said "Pfizer are said to have given undertakings to the UK Government as they increase the money they are offering the Astra Zeneca shareholders.
Similar undertakings were given by US multinationals before which have proved to be worthless.
The UK Government should not be engaged in backdoor talks with Pfizer. Instead the UK Government must make clear that it will refer this bid to the competition authorities. It need to do this to support Astra Zeneca as an independent UK based research company.
GMB seriously questions the commitment of Pfizer to manufacturing and R&D in the UK.
Pfizer walked away from a purpose built manufacturing plant in an economic bleak spot in Kent with the loss of many jobs.
Pfizer are involved in a huge pharmaceutical joint venture in China.
The UK Government has an absolute duty to act to protect against these jobs being migrated away for the UK.
The UK already has a balance of payments deficit which will be made worse if these jobs are allowed to be migrated to the Far East."
Contact: Allan Black 07725 100316 or Eddie Parker in North West 07740 804046 or GMB press office 07921 289880 or 07974 251 823