May 8, 2014 / 7:57 PM / 4 years ago

Swedish PM worried Pfizer would cut AstraZeneca jobs -report

STOCKHOLM, May 8 (Reuters) - Swedish Prime Minister Fredrik Reinfeldt said he was worried Swedish jobs at AstraZeneca could be lost if its U.S. rival Pfizer succeeds in buying it, Swedish news agency TT reported.

Reinfeldt said on Thursday that Pfizer had disappointed Sweden before, referring to its 2002 acquisition of Pharmacia.

“We have negative experiences from Pharmacia. There were promises that it would mean jobs and operations in Sweden that we don’t think were honoured. It makes us feel great concern for jobs and resources for research,” TT quoted Reinfeldt as saying.

AstraZeneca, which was created through a 1999 merger between Britain’s Zeneca and Sweden’s Astra, has around 5,900 employees in Sweden out of roughly 51,500 globally, according to its website.

AstraZeneca’s board has rejected a $106 billion offer from Pfizer, a potential deal that causing political concern in Britain as well.

Reporting by Sven Nordenstam

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