The New York-headquartered company said it believed there was "a compelling rationale for a combination" and argued AstraZeneca would face "challenges" if it remains independent. These challenges were listed as declining revenues as lucrative drugs lose patent protection, uncertainty over whether AstraZeneca's research and development will produce viable drugs, and a "potential lack of scale" to compete against larger rivals. Adrian Bailey, the Labour MP, who chairs the business, innovation and skills committee, told BBC Radio 4's Today programme that Pfizer had a reputation for buying companies with good research facilities and then closing them down. "Pfizer's track record gives no confidence that they can deliver on the promises they have made." His warning was echoed by the Royal Society, which weighed into the debate with a letter to MPs raising concerns that Pfizer's commitments are vague and should be treated with caution.