Pfizer said to be adding $5B to AZ bid

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Pfizer has sweetened the pot in its bid for AstraZeneca, Bloomberg reports. The new deal could reach $106 billion, according to a source the news service says is close to the matter.

An offer last week hovered in the $101-billion range, according to recent reports.

If the deal goes through, it would give Pfizer a lower tax rate and grant it access to a number of investigational cancer drugs.

Ian Read met with British lawmakers on April 29 to discuss the bid, according to another Bloomberg source, and the CEO “emphasized the American company's plans to carry out research, development and manufacturing in the UK, as well as the appeal of the British tax system.”

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