AstraZeneca has urged David Cameron not to give ammunition to Pfizer’s £63bn takeover approach as the UK group prepares to step up its defence by trumpeting a range of new drugs under development.
Leif Johansson, AstraZeneca’s Swedish chairman, cautioned the prime minister that the government’s active engagement with Pfizer could allow the US group to claim that Downing Street was in favour of the deal, according to people familiar with the conversation, which took place on Friday.
Details of the conversation emerged after Ed Miliband, leader of the opposition Labour party, on Sunday accused Mr Cameron of acting like a “cheerleader” for Pfizer after ministers entered negotiations with the company over jobs and investment before it has even made a formal offer.