Pfizer takeover of AstraZeneca 'disastrous' for London science

AstraZeneca: scientists have warned the takeover by Pfizer could be 'disastrous' (Picture: Getty)

9 May 2014

London's top scientists today warned medical research in the capital and across Britain could be “nullified” by AstraZeneca being taken over by US pharmaceutical giant Pfizer.

They stressed thousands of staff could be axed and research facilities shut down if the £63 billion acquisition by Pfizer, which would be Britain’s biggest foreign takeover, goes through.

Michael Arthur, provost of University College London, said: “My biggest fear is that Pfizer makes all these promises to keep the science going in this country, succeeds in taking over AstraZeneca, then closes down its UK research facilities, lays off British scientists and sees one of the jewels in the crown of industry in this country nullified.”

Professor David Nutt, the Government’s former drug advisor who now runs neuropsychopharmacology at Imperial College, said Pfizer’s attempted takeover could be “disastrous for London”.

He added: “London is the greatest centre for neuroscience in the world.

“Pfizer’s track record is buy and destroy — I can’t see why it would keep the investment in the UK.”

Professor Sir Robert Lechler, vice-principal of health at King’s College London, said: “By working with commercial partners, we can capitalise on our breakthroughs, bring new treatments to market and boost the UK’s economy.

“This dynamic environment is what has made companies like AstraZeneca an attractive proposition to investors.” Another top scientist, Professor Sir Alan Fersht, master of Caius College, Cambridge, warned: “If AstraZeneca is bought and run down, it will seriously impact the whole country.

“People will be less interested in careers in science because of the poorer job prospects, and the Government will say ‘we don’t have companies to exploit innovation of universities so why should we fund research?’”

The US drugmaker, which bought Viagra to the world, has promised to employ at least 20 per cent of its research staff in the UK and to press ahead with AstraZeneca’s plans to build a £300 million science base in Cambridge.

But Prof Arthur stressed scientists were worried by previous Pfizer take-overs in which staff were laid off and research facilities closed and that “by pulling out of its Sandwich site, Pfizer has a history of declaring the UK as not a place to do advanced research”.

Prof Nutt called on the Government to introduce a “golden share” option for Britain’s two remaining major pharmaceutical companies, AstraZeneca and GlaxoSmithKline, as it has with Rolls Royce.

The Government has held detailed talks with both Pfizer and AstraZeneca, with David Cameron vowing to “back British jobs, British research and development and British science”.

But Labour has dismissed pledges from Pfizer over the proposed deal and Ed Miliband is urging the Prime Minister to widen the public interest test to include science, research and development and order an independent report on the proposed takeover.

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