UK politicians worry that a Pfizer takeover would erode British scientific competence. But if that foundation were strong, the deal would hardly matter. The drug industry has fundamental problems. That’s why Astra has been slashing R&D by itself, and cost-cutting is driving M&A.
Ampoules containing a medium for stem cell storage are displayed at the UK Stem Cell Bank in north London.
British Prime Minister David Cameron demanded U.S. drugmaker Pfizer give stronger guarantees it will keep jobs and investment in the UK in order to secure his government’s blessing for a takeover of AstraZeneca.