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Fiona fox's blog
Pfizer is reported to have upped its offer for a possible takeover of AstraZeneca.
Sir Paul Nurse, President of the Royal Society, said:
“The life sciences are a hugely important element of the UK’s economy and that is based on the high quality of the science that is done here. Whatever the outcome of the Pfizer bid for Astra Zeneca, it remains vital to the UK economy and to the long term sustainability of life sciences companies that there is strong investment in the research required to deliver new treatments.
Sadly, too much of the focus of this debate has been on current share values, tax breaks and the short term profits that can be made on the deal. This is exactly the sort of ‘get rich quick’ culture that brought the global economy to its knees a few years ago. We need to return to a mind-set that is about investing in sustainable, long term growth and for the pharmaceutical industry that means investing in the best research, much of which is done here in the UK.”
Declared interests
Sir Paul Nurse is Director of the Francis Crick Institute, which when it opens will have links with pharmaceutical companies.