Local MP, David Rutley, is pleased that the proposed Pfizer bid for AstraZeneca has not gone ahead, after Pfizer withdrew its recent offer.
David recognised and shared the strong concerns of many local residents about Pfizer’s proposed bid and the impact this could have had on jobs in Macclesfield and the local economy, should the bid have proceeded.
Any such bid would have been important locally. AstraZeneca is our largest employer, with 2,000 highly skilled employees involved in advanced manufacturing, packing, pharmaceutical development and related activities at the Macclesfield site. Pfizer’s proposed bid would not only have been critical to the local economy, with AstraZeneca accounting for 2% of UK exports; there would also have been major implications for the North West and the United Kingdom as a whole.
AstraZeneca has a highly skilled workforce in Macclesfield and a proven track record in manufacturing and packaging medical treatments, including Zoladex, the successful prostate cancer treatment with $1 billion sales worldwide. It is vital that the potential of the skilled staff and the expertise at the Macclesfield site continues to be realised in the years ahead.
That is why in recent weeks, David actively worked to safeguard jobs in Macclesfield. He met David Willetts, the Science Minister, Vince Cable, Secretary of State for Business, and the Prime Minister to seek further clarification of Pfizer’s intentions and to press for more specific commitments relating to AstraZeneca’s Macclesfield site. David also urged Government Ministers to seek stronger, longer term commitments from Pfizer, should the bid have proceeded.
David also had conversations with Pfizer senior executives, prior to the company’s bid being withdrawn. In these conversations, he called on the company to strengthen its initial commitments. In its letter to the Prime Minister of 2nd May, Pfizer said it would be committed to bringing additional manufacturing operations to the UK, as well as keeping manufacturing at Macclesfield. David pressed for this commitment to be made stronger to say that 2,000 jobs would be retained at the Macclesfield site. He also called on Pfizer to commit to honour AstraZeneca’s £120 million investment to upgrade the Zoladex operations in Macclesfield, which has not yet been completed.
After Pfizer’s bid was withdrawn, David said “Pfizer’s proposed bid for AstraZeneca would not just have been important for Macclesfield, but for our national economy too. Our science base is a vital asset. That is why I will continue to actively monitor the situation and work with Government Ministers to ensure that there is a sustainable future for life sciences in Macclesfield and in the UK in the decades ahead.”