Stop the predatory takeover of AstraZeneca by Pfizer

The Issue

Why is this important?

On a personal Level

AstraZeneca are developing a drug for Ovarian Cancer, and as a patient of the disease this is very close to my heart. I live in London.

Recently representing the charity Ovarian Cancer Action as a one of their 'Voices' I met a group of Scientists at AstraZeneca and talked about my prognosis and journey. I do not want their research, and investments disrupted, halted, altered by such a takeover. Not just on Ovarian Cancer but the wide range of interests the company has.

On a Local Level

We should not want employees to lose their jobs.

Pfizer has a poor reputation in such situations. Look at the takeover in Kent, where the plant working on Viagra was closed and 1500 workers lost their jobs.

Assurances are worth nothing unless they are legally binding, note the Kraft takeover of Cadbury!

On a National Level and International Level

AstraZeneca is one of Britain's most important companies it represents almost a tenth of this country's investment in research and development.

It is successful. Quite simply... let's be proud and support the company.

Many of the Guardian articles on the subject are interesting to read:

Former science minister Lord Sainsbury has launched a blistering attack on it calling on the government to block its attempt to "dismember" a strategically important British company.

David Davis a former minister and Conservative leadership candidate, said he did not believe the deal would pass such a test as it seemed to revolve around the lowering of Pfizer's tax bill. He told the Times: "If such a test were applied in this case, then I believe Pfizer's bid would fail. It doesn't have a great track record in honouring its undertakings and the suspicion remains it is primarily interested in reducing its tax bill."

Labour has expressed scepticism about the deal, with Miliband calling for a new public interest test 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, which critics fear could lead to job losses and the erosion of Britain's research base. Guardian online Rowena Mason

Why does Pfizer want to takeover AstraZeneca

Pfizer plans to 'flip' its tax domicile to Britain because it is lower here than in the US, and Obama is planning to change the rules on the 'flipping' loophole.

To benefit from George Osbourne's new 10% rate on patent royalties.

In addition on past performance Pfizer prefers "tax gaming, share buybacks and 'consolidation' ". Which would include huge cuts in investment in research and development. Seumas Milne

How is this good for AstraZeneca or Britain?

On a moral Level

The board at AstraZeneca do not want the takeover.

AstraZeneca's former boss has described Pfizer as a "praying mantis that sucks the lifeblood out of it's prey".

AstraZeneca's 4th largest shareholder Sweden's Investor AB, has come out in support of the board's rejection of the takeover.

Why do we as acountry allow such massive predatory takeovers? Let's support British industry, creativity and investment.

David Cameron we know that  your pollster Mark Textor used to lobby for Pfizer, and that Gabby Bertin (one of you closest aides) was paid by the corporation. Is this influencing your decision to let the takeover go ahead?

What needs to be done to block the takeover

The government needs to amend the Enterprise Act, to allow the government to assess the bid independently and then hopefully block the takeover.

A public interest test needs to take place as suggested by Ed Miliband, then it should be possible to block it.

Who gains from the takeover Mr Cameron?

Does the City who the Conservative Party seems to support above all else stand to gain a huge amount if the merger takes place?

To build Britain rather than dismantle it

"None of this of course is about jobs, products or investment. It's about encouraging corporate concentration through the most de-regulated takeover regime in any advanced industrial state in the world....in the decade before the crash, foreign ownership rose from 25% to half on national output. No other major advanced economy has allowed such a shopping spree" Guardian Seumus Milne

How can we stop this and build Britain?

How can we develop proper, moral, regulated business investment in this country.

How you can help?

Please support the petition, we can make a difference together. Get David Cameron to listen and act to stop the takeover.

Thank you to the Guardian

I want to say a huge thank you for helping to educate me. In the above petition their wisdom has been such a help for me.The journalists have done a magnificent job stating the arguments in an easily understandable way .... I feel passionately about the above and we should all be standing together for our wonderful country!

This petition had 38,734 supporters

The Issue

Why is this important?

On a personal Level

AstraZeneca are developing a drug for Ovarian Cancer, and as a patient of the disease this is very close to my heart. I live in London.

Recently representing the charity Ovarian Cancer Action as a one of their 'Voices' I met a group of Scientists at AstraZeneca and talked about my prognosis and journey. I do not want their research, and investments disrupted, halted, altered by such a takeover. Not just on Ovarian Cancer but the wide range of interests the company has.

On a Local Level

We should not want employees to lose their jobs.

Pfizer has a poor reputation in such situations. Look at the takeover in Kent, where the plant working on Viagra was closed and 1500 workers lost their jobs.

Assurances are worth nothing unless they are legally binding, note the Kraft takeover of Cadbury!

On a National Level and International Level

AstraZeneca is one of Britain's most important companies it represents almost a tenth of this country's investment in research and development.

It is successful. Quite simply... let's be proud and support the company.

Many of the Guardian articles on the subject are interesting to read:

Former science minister Lord Sainsbury has launched a blistering attack on it calling on the government to block its attempt to "dismember" a strategically important British company.

David Davis a former minister and Conservative leadership candidate, said he did not believe the deal would pass such a test as it seemed to revolve around the lowering of Pfizer's tax bill. He told the Times: "If such a test were applied in this case, then I believe Pfizer's bid would fail. It doesn't have a great track record in honouring its undertakings and the suspicion remains it is primarily interested in reducing its tax bill."

Labour has expressed scepticism about the deal, with Miliband calling for a new public interest test 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, which critics fear could lead to job losses and the erosion of Britain's research base. Guardian online Rowena Mason

Why does Pfizer want to takeover AstraZeneca

Pfizer plans to 'flip' its tax domicile to Britain because it is lower here than in the US, and Obama is planning to change the rules on the 'flipping' loophole.

To benefit from George Osbourne's new 10% rate on patent royalties.

In addition on past performance Pfizer prefers "tax gaming, share buybacks and 'consolidation' ". Which would include huge cuts in investment in research and development. Seumas Milne

How is this good for AstraZeneca or Britain?

On a moral Level

The board at AstraZeneca do not want the takeover.

AstraZeneca's former boss has described Pfizer as a "praying mantis that sucks the lifeblood out of it's prey".

AstraZeneca's 4th largest shareholder Sweden's Investor AB, has come out in support of the board's rejection of the takeover.

Why do we as acountry allow such massive predatory takeovers? Let's support British industry, creativity and investment.

David Cameron we know that  your pollster Mark Textor used to lobby for Pfizer, and that Gabby Bertin (one of you closest aides) was paid by the corporation. Is this influencing your decision to let the takeover go ahead?

What needs to be done to block the takeover

The government needs to amend the Enterprise Act, to allow the government to assess the bid independently and then hopefully block the takeover.

A public interest test needs to take place as suggested by Ed Miliband, then it should be possible to block it.

Who gains from the takeover Mr Cameron?

Does the City who the Conservative Party seems to support above all else stand to gain a huge amount if the merger takes place?

To build Britain rather than dismantle it

"None of this of course is about jobs, products or investment. It's about encouraging corporate concentration through the most de-regulated takeover regime in any advanced industrial state in the world....in the decade before the crash, foreign ownership rose from 25% to half on national output. No other major advanced economy has allowed such a shopping spree" Guardian Seumus Milne

How can we stop this and build Britain?

How can we develop proper, moral, regulated business investment in this country.

How you can help?

Please support the petition, we can make a difference together. Get David Cameron to listen and act to stop the takeover.

Thank you to the Guardian

I want to say a huge thank you for helping to educate me. In the above petition their wisdom has been such a help for me.The journalists have done a magnificent job stating the arguments in an easily understandable way .... I feel passionately about the above and we should all be standing together for our wonderful country!

The Decision Makers

Adrian Bailey
Adrian Bailey
Chair Business Select Committee
Pascal Soriot
Pascal Soriot
Chief Executive AstraZeneca
Andrew Miller
Andrew Miller
Chair House of Commons Science Select Committee
Ed Miliband
Labour Party Leader
David Cameron MP
Former Prime Minister of the United Kingdom and Leader of the Conservative Party

Petition Updates