There can be few people in Kent who feel anything but relief that Pfizer’s bid to buy the British pharmaceutical giant AstraZeneca was thwarted.
There are many in our community that once commuted to Sandwich to the vast sprawling Pfizer site. The 2,500 boffins led the world in treating tropical diseases to erectile dysfunction. Their high-paid jobs was a boost to the local economy and inspired the idea of big business taking off in Kent.
Then suddenly three years ago the place was shut down and people were out of a job.
To have yet another American company take over a proud British institution is always choking. But when it’s one that pledges to invest in Britain while its track record is so blatantly abysmal is galling to say the least.
In the end, as these things always do, it came down to money. Politicians made noises about wanting to protect jobs, but it was all about the dollars and cents. Pfizer refused to stump up the amount being requested.
Pfizer won’t be able to bid for another six months under the rules of corporate acquisitions. That’s time enough for AstraZeneca to dose itself up against any further bouts of infection.