Pfizer Said to Plan Sweetening AstraZeneca Bid With Cash

Pfizer Inc. is preparing to sweeten its bid for AstraZeneca Plc to more than 63 billion pounds ($106 billion) in an attempt to lure the U.K.’s second-biggest drugmaker to the negotiating table, people with knowledge of the matter said.

The offer may value AstraZeneca at more than 50 pounds a share and include a larger cash component, and could come as early as next week, said the people, who asked not to be identified discussing confidential information. The London-based company rejected a cash-and-stock proposal of 46.61 pounds a share. Pfizer will report its earnings on May 5.