Thu May 15, 2014
Senator Chris Coons Calls for Anti-Trust Review for Pfizer Aquisition
Senator Chris Coons has called on the Federal Trade Commission and the Justice Department to review the proposed acquisition of the British based AstraZeneca by Pfizer for a potential anti-trust violation.
The Delaware Democrat wrote in his letter to the agencies that Pfizer has a history of acquiring drug companies and slashing jobs.
He charged that the acquisition could lead to fewer drugs and have adverse effects on the consumer.
If the acquisition goes through Pfizer could reincorporate in the United Kingdom with a tax savings of $1 billion.
Coons noted that this would allow the company to operate in the country without paying U.S. taxes.