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Pfizer Fights Backlash From U.K, U.S. on AstraZeneca Bid

Pfizer Inc.’s record of job cuts after acquisitions is now drawing heat from both sides of the Atlantic. U.S. and state politicians have joined their U.K. counterparts in questioning the economic impact of the drugmaker’s push to buy AstraZeneca Plc.

U.S. Senators Carl Levin and Ron Wyden are proposing legislation that would make it harder for U.S. companies to shift their legal addresses overseas to avoid U.S. taxes, a move Pfizer has proposed as part of the transaction. Maryland Governor Martin O’Malley and Delaware Governor Jack Markell said yesterday they were concerned the deal will lead to job losses in their states in a letter to Pfizer Chief Executive Officer Ian Read.