Government continues to monitor AstraZeneca takeover

The Business Secretary Vince Cable says the government continues to monitor the proposed takeover of AstraZeneca by US drugs giant Pfizer, saying that it is in the "national interest" to do so.

More: Miliband reiterates call for 'objective' Astra-Pfizer test

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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.