Poll: UK opposed to Pfizer takeover bid of AZ
pharmafile | May 13, 2014 | News story | Research and Development, Sales and Marketing | AstraZeneca, Cameron, Pfizer, UK, buyout, merger, research
The UK’s largest union says a new poll shows that the vast majority of the British public are against Pfizer’s attempt to buy AstraZeneca.
Just 14% of people think that Pfizer’s proposed takeover of the Anglo-Swedish firm is in the UK’s interest, with less than 1 in 5 (19%) confident that the government is doing enough to safeguard UK jobs and skills, according to a Survation poll.
The independent study, conducted for Britain’s largest union Unite, also shows that prime minister David Cameron risks ‘alienating’ Conservative voters and is ‘out of step’ with public opinion.
Unite has already expressed concerns as have others such as the Wellcome Trust and a collection of British research groups, that thousands of jobs could be axed should the takeover be sanctioned.
AstraZeneca has blocked two bids worth more than $106 billion from Pfizer in recent months, but a decision as to whether AZ will accept the latest terms must be made by 26 May, or Pfizer will have to wait another six months to make another formal bid.
According to the survey, over three-quarters (77%) of Conservative voters believe all takeovers of this magnitude should be subject to a ‘public interest’ test, compared to a total across all voting intentions of 74 per cent.
The idea of the public interest test was first put forward by Labour leader Ed Miliband, which receives large support from workers’ unions such as Unite, that aims to protect UK research and development.
He has urged Cameron to seek better assurances from Pfizer, and accused the prime minister of being a ‘cheerleader’ for the takeover.
However, it emerged last week that he turned down a request for a meeting with Ian Read, Pfizer’s chief executive, as he was ‘too busy campaigning’, although it is understood he is now trying to find time.
Parliamentary grilling
The weighted poll of 1,005 people comes ahead of today’s (Tuesday 13 May) House of Commons business select committee hearing on the takeover, with Unite and GMB appearing in the morning before the chief executives of AstraZeneca and Pfizer are pressed by the committee’s MPs.
Tomorrow also sees a series of adverts in the national media from Unite and GMB saying the Pfizer takeover is the ‘wrong prescription’ for Britain.
Unite’s general secretary, Len McCluskey says: “The British public isn’t being fooled by Pfizer’s proposed takeover of AstraZeneca and has a complete lack of confidence that the government has British interests at heart.
“Pfizer’s track record is one of slashing jobs and cutting costs and its ‘guarantees’ could evaporate at any moment. As it stands it’s the wrong prescription for Britain. The takeover bid is motivated by a desire to use the UK to minimise its tax liabilities while getting its hands on AstraZeneca’s drug portfolio.
“David Cameron is in danger of once again misjudging the public mood and being on the wrong side of opinion. The British public wants to see the government cheerleading for British science, British skills and British jobs – not for takeovers that shed jobs and damage UK manufacturing.
“It’s time for David Cameron to listen to his own supporters and the rest of public opinion to apply a public interest test on the takeover, and stand up for British manufacturing.”
Ben Adams
Related Content
AstraZeneca shares results for Imfinzi in phase 3 trial for small cell lung cancer
AstraZeneca has announced positive high-level results from the phase 3 ADRIATIC trial, which demonstrated that …
FDA accepts BLA for AstraZeneca and Daiichi Sankyo’s datopotamab deruxtecan for breast cancer treatment
AstraZeneca and Daiichi Sankyo have announced that their Biologics License Application (BLA) for datopotamab deruxtecan …
FDA approves AstraZeneca’s Ultomiris for NMOSD treatment
AstraZeneca has announced that the US Food and Drug Administration (FDA) has approved Ultomiris (ravulizumab-cwvs) …
