Governors Send Joint Letter of Concern about Potential Acquisition of AstraZeneca
Maryland Governor Martin O’Malley and Deleware Governor Jack Markell sent a letter today to Ian Read, chairman and Chief Executive Officer of Pfizer, Inc., expressing deep concerns about the potential acquisition of AstraZeneca PLC. The letter highlights the potentially significant impact on good, family-sustaining jobs in both Maryland and Delaware, and expresses concern about the company’s open interest in gaining access to offshore funds and “tax-efficient” operations.
AstraZeneca employs approximately 3,100 people in Maryland, and approximately 2,600 people in Delaware, prompting the two governors to seek answers about the company’s potential future in the two states.
The two governors also sent letters expressing concern to several federal executive branch officials, including Attorney General Eric Holder, Secretary of State John Kerry, Secretary of Commerce Penny Pritzker, FDA Commissioner Margaret A. Hamburg, and SEC Chair Mary Jo White, as well as to a number of members of Congress — including Speaker of the House John Boehner, Democratic Leader Nancy Pelosi, several congressional committees, Chairs Representative Kevin Brady and Senator Amy Klobuchar of the U.S. Joint Economic Committee, and members of both the Maryland and Delaware Congressional delegations.
The governors also highlighted Pfizer’s assurances to British Prime Minister David Cameron on job retention, potential relocation, as well as employment guarantees for workers in the United Kingdom, and noted that Pfizer has yet to provide any commitment to Maryland or Delaware.
The letter requests responses from Pfizer regarding the potential impact on thousands of residents in both states, as well as a number of other issues, including: the potential number of jobs to be eliminated upon acquisition; commitments Pfizer is prepared to make to current AstraZeneca employees; future interest in investments in R&D and maintenance of innovation efforts; and answers to questions about potential redistribution of assets.
In order to preserve and protect American jobs and the future of families affected in the two states, both governors indicated that they intend to continue to pursue their concerns with the White House, members of the Obama Administration, and the U.S. Congress.
You can read the full text of the letter to Pfizer here.