Years of scientific work could be undone at AstraZeneca if a deal goes ahead with Pfizer, experts at the firm have warned. Any takeover would be ‘disruptive’ for its pipeline of new drugs, they said, calling on the board to ‘fight’ for the company’s independence. The comments are in contrast to those of chief executive Pascal Soriot, who stands to make up to £31.5million if the deal goes ahead. Expert: Concerns have been raised by Dr Mene Pangalos (pictured), AstraZeneca's executive vice chairman for innovative medicines and early development . He has refused to rule out a deal on the grounds that the interests of shareholders must be taken  into account. Concerns have been raised by Dr Mene Pangalos, AstraZeneca’s executive vice chairman for innovative medicines and early development. He said the firm had spent years developing trust in an industry that relies on close collaboration between scientists in a variety of fields and organisations. ‘It’s quite fragile because it’s all dependent on people,’ he said. ‘If you destabilise that, it could have a hugely detrimental impact on science in the UK.’ The company was confident it could keep delivering lucrative drugs and other treatments without outside intervention, he added. Describing its ethos as ‘innovative and collaborative’, he said: ‘That is our culture. That is what I am fighting to retain.’ Dr Mike Snowden, head of discovery science, warned a merger could lead to job losses or the closure of facilities. And Dr Jane Osbourn, vice president of MedImmune, the firm’s biologics arm, insisted ‘continuity is crucial’ for the long-term commitments vital to life sciences, where a single discovery can take decades of research. ‘Big mergers are disruptive. That’s an important point to put,’ she said. The merger between Pfizer and AstraZeneca would be the largest in UK corporate history creating a £63billion business. Takeover: The comments are in contrast to those of AstraZeneca's chief executive Pascal Soriot (pictured), who stands to make up to £31.5million if the deal goes ahead . The US firm has sought to calm fears about the impact on the pharmaceutical industry in the UK with pledges about its commitment. But it  has admitted there could be job losses through ‘financial synergies’. Mr Soriot has 152,000 shares in his firm, worth £8.3million. Another 421,000 shares in a long-term incentive scheme would increase the total to £31.5million. Together with shares held by senior directors, the board’s windfall would reach £60million.In an interview with the Daily Mail on Thursday Mr Soriot insisted a deal was ‘not inevitable’. He said yesterday: ‘We have complete confidence in our strategy as an independent company and remain focused on delivering new medicines for patients.’ Meanwhile, it has emerged that Pfizer executives cashed in shares worth millions of pounds shortly before offering a higher bid for AstraZeneca. Chief executive Ian Read sold £6.3million of his holdings on February 26. Other senior figures to sell stakes in the days that followed included finance chief Frank D’Amelio, who made £5.3million, and principal accounting officer Loretta Cangialosi, who netted £1.8million. Pfizer’s share value has fallen nine per cent since Mr Read released his stake. The company announced a takeover bid in January and made a revised offer on April 28 of £48 a share, valuing the firm at around £63billion. Mr Soriot said the offer ‘seriously undervalues’ the company. City analysts believe Pfizer will offer £53 to £55-a-share. AstraZeneca’s shares rose more than 2 per cent yesterday, gaining 97p to close at 4,823.5p on the London Stock Exchange, as investors bet on a higher bid.
Scientists say takeover by Pfizer would be 'disruptive' to their work .
Comments are in contrast to those made by company's chief executive .
Pascal Soriot stands to make up to £31.5million if the deal goes ahead .
Years of scientific work could be undone at AstraZeneca if a deal goes ahead with Pfizer, experts at the firm have warned. Any takeover would be ‘disruptive’ for its pipeline of new drugs, they said, calling on the board to ‘fight’ for the company’s independence. The comments are in contrast to those of chief executive Pascal Soriot, who stands to make up to £31.5million if the deal goes ahead. Expert: Concerns have been raised by Dr Mene Pangalos (pictured), AstraZeneca's executive vice chairman for innovative medicines and early development . He has refused to rule out a deal on the grounds that the interests of shareholders must be taken into account. Concerns have been raised by Dr Mene Pangalos, AstraZeneca’s executive vice chairman for innovative medicines and early development. He said the firm had spent years developing trust in an industry that relies on close collaboration between scientists in a variety of fields and organisations. ‘It’s quite fragile because it’s all dependent on people,’ he said. ‘If you destabilise that, it could have a hugely detrimental impact on science in the UK.’ The company was confident it could keep delivering lucrative drugs and other treatments without outside intervention, he added. Describing its ethos as ‘innovative and collaborative’, he said: ‘That is our culture. That is what I am fighting to retain.’ Dr Mike Snowden, head of discovery science, warned a merger could lead to job losses or the closure of facilities. And Dr Jane Osbourn, vice president of MedImmune, the firm’s biologics arm, insisted ‘continuity is crucial’ for the long-term commitments vital to life sciences, where a single discovery can take decades of research. ‘Big mergers are disruptive. That’s an important point to put,’ she said. The merger between Pfizer and AstraZeneca would be the largest in UK corporate history creating a £63billion business. Takeover: The comments are in contrast to those of AstraZeneca's chief executive Pascal Soriot (pictured), who stands to make up to £31.5million if the deal goes ahead . The US firm has sought to calm fears about the impact on the pharmaceutical industry in the UK with pledges about its commitment. But it  has admitted there could be job losses through ‘financial synergies’. Mr Soriot has 152,000 shares in his firm, worth £8.3million. Another 421,000 shares in a long-term incentive scheme would increase the total to £31.5million. Together with shares held by senior directors, the board’s windfall would reach £60million.In an interview with the Daily Mail on Thursday Mr Soriot insisted a deal was ‘not inevitable’. He said yesterday: ‘We have complete confidence in our strategy as an independent company and remain focused on delivering new medicines for patients.’ Meanwhile, it has emerged that Pfizer executives cashed in shares worth millions of pounds shortly before offering a higher bid for AstraZeneca. Chief executive Ian Read sold £6.3million of his holdings on February 26. Other senior figures to sell stakes in the days that followed included finance chief Frank D’Amelio, who made £5.3million, and principal accounting officer Loretta Cangialosi, who netted £1.8million. Pfizer’s share value has fallen nine per cent since Mr Read released his stake. The company announced a takeover bid in January and made a revised offer on April 28 of £48 a share, valuing the firm at around £63billion. Mr Soriot said the offer ‘seriously undervalues’ the company. City analysts believe Pfizer will offer £53 to £55-a-share. AstraZeneca’s shares rose more than 2 per cent yesterday, gaining 97p to close at 4,823.5p on the London Stock Exchange, as investors bet on a higher bid.
would be ‘disruptive’ for its pipeline of new Soriot, who stands to make up to £31.5million if Takeover: The comments are in contrast to those of AstraZeneca's chief executive Pascal Soriot if the deal goes ahead . The US firm has sought