Pfizer underscores UK commitments in memo

London (AP) — Pfizer Inc. has sought to allay concerns over its proposed $106 billion takeover offer of AstraZeneca, insisting that its promises will be legally binding.

In a memo Monday to two parliamentary committees studying its proposed takeover, the U.S. drugmaker laid outs its vision ahead of testimony later this week.

Crucially, the company sought to ease worries that British jobs will be lost and that the nation's science base will be undermined by the potential merger.

The maker of Viagra has already written to Prime Minister David Cameron to offer commitments, such as a promise to establish the new company's tax residence in England.

In the memo, Pfizer said it included its commitments in the proposed offer announcement "understanding fully that they would be binding as a matter of English law."

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