Pfizer chief says AstraZeneca takeover a "win win"

The four videos, published on the company's website, come ahead of two separate House of Commons select committee meetings next week in which Mr Read and Pascal Soirot, his opposite number at AstraZeneca, will be grilled by politicians.

In the videos, Mr Read answers a series of questions. He explains that the deal is motivated by three drivers; one, AstraZeneca's strong drugs pipeline; two, cost cutting; and three, the strength given to the combined balance sheet through the lower tax base the UK provides.

Although he responds to a question on how Pfizer would manage the potential integration, his response focuses not on job cuts but on structural working groups and how different areas of research and products would be managed.

On Pfizer's commitment to the UK, Mr Read points to the way in which the company has worked with universities in the US, and says he sees "great similarities" with its innovation hub in Cambridge, Massachusetts, and the way AstraZeneca works with scientists at institutions in Oxford, Cambridge and London.

He also said that the two companies have "very complementary" cultures, which he believes is important for any takeover.

"One of the most important things that you do when you do a combination is you need to believe that the cultures are similar, so you can do it quickly and you can come out with a combined company that clearly understands its objectives and is ready to go," he said.

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