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LABOUR demanded yesterday that the proposed takeover of Britain’s pharmaceutical giant AstraZeneca should be subject to a public-interest test.
Shadow business secretary Chuka Umunna warned the government that the AstraZeneca takeover by American multinational Pfizer could have serious consequences for the British economy.
“The assurances Pfizer has given ministers are not worth the paper they are written on,” Mr Umunna said.
“Pfizer has since refused to rule out breaking up the AstraZeneca business and selling off parts of it in the future if this takeover proceeds.”
And in a letter to Business Secretary Vince Cable, Mr Umunna told him that there was “wide concern” over the deal and the “implications for science and research and development.”
It is hoped the letter will embolden Mr Cable, who has previously said he would “not rule out intervention,” to block the £63 million takeover bid.
Labour leader Ed Milliband has called for a longer public consultation on the sale.
