1. National

Pfizer admits defeat on AstraZeneca bid

US pharmaceuticals giant Pfizer has called off its multi-billion pound bid to take over British-Swedish firm AstraZeneca. The decision came after AstraZeneca's board declined an offer worth almost £70bn.

View all 58 updates ›

Ian Read: 'We like that AstraZeneca science is in the UK'

Pfizer's chief executive has moved to calm fears about the impact of his company's proposed takeover of AstraZeneca on British science.

Pfizer chief executive Ian Read has moved to calm fears about Pfizer's takeover of AstraZeneca. Credit: Pfizer

Speaking on a video on Pfizer's website, Ian Read pointed out the strength of the UK's academic institutions, saying:

"When we looked at AZ, we liked their science, We liked where their science is being done, which is in the UK.

"And we know we have good science in the UK in the Cambridge, Oxford, London and other universities."

More on this story