US drugmaker Pfizer kept up the pressure on bid target AstraZeneca on Tuesday, saying its offer represented compelling value for a company which would otherwise face challenges as a standalone firm.
Signboards of Anglo-Swedish pharmaceutical giant AstraZeneca are pictured in Macclesfield in northwest England. (AFP Photo)
Pfizer released a statement to set out its case for the deal, just hours before its chief executive appears in front of a British parliamentary committee to explain why he wants to acquire Britain's second largest drugmaker.
AstraZeneca has rejected a $106 billion bid from Pfizer but the US group is widely expected to return with a higher offer later this week.