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UPDATE 2-Senators titillate tough US examination of Pfizer bid for AstraZeneca

UPDATE 2-Senators titillate tough US examination of Pfizer bid for AstraZeneca


(Adds criticism from association in greeting to senators’ concerns)

WASHINGTON May 14 (Reuters) – Six U.S. senators asked
antitrust regulators to take a tough demeanour during Pfizer Inc’s
plan to buy opposition AstraZeneca PLC if a dual companies
reach a deal, observant they had “significant concerns” about how
the due transaction would impact consumers.

AstraZeneca, shaped in 1999 from a partnership of Sweden’s
Astra and Britain’s Zeneca, has deserted a $106 billion offer
from U.S. drugmaker Pfizer, though Pfizer has not given adult and a
possible understanding has lifted concerns in Europe and a United
States.

“Should a partnership or merger eventually be supposed by
AstraZeneca, either underneath a terms of that offer or any
subsequent offer, we wish to move to your courtesy our
significant concerns with a potentially damaging impact to
consumers that would result,” a senators pronounced in a letter.

The senators, all Democrats, pronounced that a 2009 understanding by Pfizer
to buy Wyeth Laboratories was followed by a Pfizer preference to
close investigate and growth sites.

“Pfizer’s record of shortening efforts to innovate and bring
new products to marketplace following before acquisitions is plain,”
the senators wrote to a tip officials of a Department of
Justice and a Federal Trade Commission. The dual agencies share
the pursuit of enforcing antitrust law.

Pfizer took emanate with this assertion, observant a lawmakers
“do not have all a contribution about Pfizer’s RD (research and
development).”

“Since a formation of Wyeth, we have had good momentum
in RD with 13 drug approvals,” a association pronounced in a statement,
noting that still some-more drugs were in a pipeline.

The lawmakers also criticized Pfizer for observant it wanted to
merge with AstraZeneca to emanate a UK holding association with a UK
tax domicile, while progressing a operational domicile in
New York.

“We perspective with doubt any pro-competitive justification
offered in support of this merger in light of Pfizer’s
stated proclivity for a transaction – deterrence of U.S.
taxation,” a lawmakers said.

The minute was sealed by Senators Richard Blumenthal of
Connecticut, Sherrod Brown of Ohio, Chris Coons of Delaware,
Dick Durbin of Illinois, Mazie Hirono of Hawaii and Sheldon
Whitehouse of Rhode Island.

Pfizer pronounced in response to a senators’ criticism on taxes
that it approaching discussions of a taxation remodel to continue.

“Pfizer supports extensive taxation remodel that enhances the
global competitiveness of U.S.-based companies operating
internationally,” a association pronounced in a statement.

(Reporting by Ros Krasny and Diane Bartz; Editing by Sandra
Maler, Peter Cooney and Ken Wills)

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