Pfizer's boss Ian Read is appearing at a business select committee on the US company's proposed takeover of AstraZeneca. ITV News Business Editor Joel Hills has tweeted:
Ian Read says new company would become more "efficient". Some jobs would be cut but can't say how many or where.
This morning Pfizer has "gone hostile", not with a renewed bid but with an appeal made directly to the shareholders of AstraZeneca.
MPs on the business committee are sceptical that AstraZeneca would remain committed to Britain if taken over by US giant Pfizer.