Pfizer's other takeovers 'sophisticated asset stripping'

Pfizer's have a "poor track record" when it comes to takeovers, which have been "nothing short of sophisticated asset stripping" before they registered their interest in AstraZeneca, one of Britain's leading trade unions said.

National Officer for GMB, Allan Black, was highly sceptical about US drug giant Pfizer's promise not to cut jobs if it took over Britain-based AstraZeneca.

"Pfizer have written a letter to the Prime Minister, David Cameron, which is a little like swiss cheese - i.e. it is full of holes. There is an escape clause which says, 'we are giving you these assurances Prime Minister, unless circumstances change'."

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Ed Miliband: 'Serious concerns' over proposed Pfizer deal

Following a brief 30 minute with Pfizer chief executive Ian Read after today's hearing Mr Miliband said: "There are serious concerns about this proposed takeover. There are too many unanswered questions about British science and British industry".