Pfizer's top officials have said they are weighing all strategies, including a hostile takeover, in the company's effort to seal a $106 billion takeover of British drugmaker AstraZeneca.

"Any option you can think of would be an option," Pfizer chief financial officer Frank D'Amelio said in a telephone interview, when asked whether Pfizer might take its case directly to AstraZeneca shareholders before a May 26 deadline.

That is the date by which British takeover law requires Pfizer to either make a bid for the London-based rival or walk away, unless both companies agree to seek an extension of the deadline.

“What we really need is to have AstraZeneca engage with us,” Mr D’Amelio said. “We need to be able to do the right kind of analytics that need to get done,” he added, referring to the ability to study the British drugmaker’s books.

Asked whether hostile moves could hurt integration of the two companies, chief executive Ian Read said, "No, in my opinion, all it does is delay the planning."

Regardless of whether the deal arises from friendly negotiations or a hostile approach, it is likely to end on good terms if successfully completed, Mr Read said.

Pfizer on Monday reported disappointing first quarter sales, but slightly beat Wall Street earnings forecasts due to sharp cost cuts. Sales came in $730 million below analysts’ expectations on declines for its older generic medicines and for key branded products, such as Viagra, Lipitor and Celebrex.

Last Friday, Pfizer raised its initial cash and stock offer from about $99 billion to $106 billion in its third effort to bring AstraZeneca management to the table. AstraZeneca quickly rejected the new bid, which said it significantly undervalued the company.

Reuters