Castle Point MP grills bosses and Secretary of State over Pfizer proposal

Castle Point MP Rebecca Harris has been grilling pharmaceutical bosses and Union leaders in the House of Commons over the proposed buyout of the British based drugs firm Astra-Zeneca by their American rival Pfizer.

Rebecca who sits on the Business, Innovation & Skills Select Committee in the House of Commons grilled the CEOs of both companies, representatives from the GMB and Unite Unions and the Secretary of State for Business, Innovation & Skills, Vince Cable, with other MPs for five hours about the proposal.

Amongst other things the committee raised questions on Pfizer’s plans for the future of Research and Development operations in the UK, it’s track record from past acquisitions and mergers,  tax issues and the powers the Secretary of State can have to make Pfizer live up to any commitments it makes before any deal is done.

Rebecca said on the committee session,

“A deal arising from current proposals would be the largest of its kind in British history and it would affect the entire pharmaceutical sector in the UK. Pfizer’s desire to become a UK registered firm through this deal is evidence that Britain is open for business and attracting large international firms. However, the proposals deserve intense scrutiny to ensure that any deal will ultimately be good for Britain.”