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Pfizer executives 'trying to charm politicians'

1 May 2014 Last updated at 12:32 BST

US drugs giant Pfizer is "trying to charm" British politicians as well as investors as it remains "serious" in its AstraZeneca takeover bid, Schroders' Sue Noffke has said. Fund manager Schroders has a 2% holding in the firm.

Some experts fear the possible takeover of UK pharmaceutical firm AstraZeneca by Pfizer could damage development of new drugs. Pfizer's chief executive, Ian Read, has been meeting politicians and investors looking for support for his proposed merger.

Speaking to the Today programme, Ms Noffke added that Pfizer must provide a "formal bid" for AstraZeneca rather than simply creating a "charm offensive".

First broadcast on BBC Radio 4's Today programme on Thursday 1 May.