Pfizer's potential Astra deal prompts concerns about U.S. R&D jobs

With Pfizer (PFE) pledging to protect R&D jobs in the U.K. if it buys AstraZeneca (AZN), concerns are increasing for overlapping positions in the U.S.

Employees at risk could include cancer researchers at Pfizer's facilities in La Jolla in California, and the company's immunology and respiratory experts, as well as AstraZeneca's oncology and neuroscience specialists.

"There's no doubt in my mind that if they are making these concessions to the British government, there will be cuts on this side of the Atlantic," says Aegis Capital analyst Raghuram Selvaraju. "Pfizer has a history of shutting down facilities; they don't thin down head count; they shut down an entire facility and pick up their stakes and move away."

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Comments (7)
  • caupachow
    , contributor
    Comments (527) | Send Message
    Good move for PFE to get out of Cal anyway. Lower taxes await in Europe. Wait, did I just say that!
    4 May 2014, 08:48 AM Reply Like
  • User 19161891
    , contributor
    Comment (1) | Send Message
    I'm a UK citizen and Astra Zeneca stock holder. Although I have already benefited, at least notionally, by dint of the increasing stock price of AZN, I don't want the Pfizer bid to succeed.


    My opposition isn't because of some faux patriotic 'keeping it British' sentiment. I invested in AZN because of their commitment to pure R&D and high level scientific development, which I admire. If they are bought by Pfizer they will just be another drug company.


    I suspect that in the long run it won't make much difference to my investment returns one way or the other. More important to me is feeling like I own a small part of a company which operates at a high level - an elite, intellectual company, if you like.
    4 May 2014, 10:20 AM Reply Like
  • LarryMelman
    , contributor
    Comments (1639) | Send Message
    "Commitment to pure R&D?" User, on behalf of the hundreds of US researchers that AZN has already laid off in recent years, l say "pthfthpth" to you. You couldn't be more wrong.
    4 May 2014, 01:13 PM Reply Like
  • MisterJ
    , contributor
    Comments (1182) | Send Message
    Didn't PFE close the British R&D unit in recent years? That would give the Brits way confidence in PFE's intentions - not.
    4 May 2014, 07:09 PM Reply Like
  • mastercraft
    , contributor
    Comments (2) | Send Message
    Look at what they did with Wyeth 38,000 job cuts. The shark needs to keep feeding….
    4 May 2014, 08:50 PM Reply Like
  • cash
    , contributor
    Comments (696) | Send Message
    With Obamacare's mandatory insurance requirement, people will be forced to by drugs/treatment whether it is if any use or not... So why waste inordinate amounts of money on R&D and real cures, when you can make as much money with routine drugs that prolong the life of the deceased state that can maximize the drug sales...
    4 May 2014, 11:33 PM Reply Like
  • MisterJ
    , contributor
    Comments (1182) | Send Message
    So your alternative is to not treat the uninsured? That sure is a very effective plan Hitler could not approve more of.
    5 May 2014, 01:33 AM Reply Like
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