Pfizer seeking to create new UK based pharma giant

US drugs giant Pfizer wants to create a new pharmaceuticals giant that will be domiciled for tax purposes in the UK.

Pfizer want to be based in the UK for tax reasons. Credit: Reuters

Read: Pfizer say new offer 'represents full value' of AstraZeneca

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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.