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:
New company would have 8% market share of drugs market. Bad for NHS? "Not too big to negotiate with" says Ian Read.
Pfizer refuses to say how much the move to UK would save in tax. "Sensitive information" but says group's tax rate would fall from 27%.
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.