Pfizer writes to David Cameron over proposed AstraZeneca deal

Pfizer has sent a letter to British prime minister David Cameron outlining the commitments it will make to the UK should its proposed takeover of AstraZeneca go ahead.

Ian Read, Pfizer's chairman and chief executive officer, is seeking government support for the deal and has therefore moved to explain the various benefits the transaction will bring, both from a business standpoint and a UK perspective.

As such, Pfizer has pledged to keep the combined company's corporate and tax residence in England and to continue with AstraZeneca's planned creation of a new campus in Cambridge, as well as basing key scientific leadership in the UK.

It has also promised to employ a minimum of 20 percent of the business's total research and development workforce in the UK, while looking for new opportunities to locate manufacturing operations of the combined organisation in Britain.

Mr Read's letter concluded: "We view our partnership with the UK government as a critical part of this potential transaction. We look forward to continued discussions with you."

AstraZeneca has already rejected a bid from Pfizer, but further discussions over a potential deal are expected to continue.