David Cameron and Ed Miliband have clashed at Prime Minister's Questions over the proposed takeover of AstraZeneca by its US rival Pfizer.
The Labour leader challenged the prime minister to intervene in the proposed deal.
He said if Mr Cameron did not "everyone will know he was acting as a cheerleader" for the deal.
Mr Cameron said the government would "back British jobs, British research and development and British science".
Referring to the Kraft takeover of Cadbury's under the last Labour government, Mr Cameron said ministers were actively engaging with both Pfizer and AstraZeneca, "because we know what happens when you stand back, just say you're opposed to everything - what you get is abject surrender and no guarantees for Britain".
Mr Miliband said Labour would back the government if it chose to widen the public interest test to include science and research and development (R&D).
He asked Mr Cameron: "Is he ruling out or ruling in the public interest test on this matter? We could make it happen. If he does not do it now everyone will know he was a cheerleader for the deal."
Earlier, Swedish finance minister Anders Borg told BBC Radio 4's Today programme that his country's experience of pledges from Pfizer had led him to be sceptical of the US firm.
"Our experience shows that their track record is not very convincing and I think one should take these kind of promises not only with a pinch of salt but a sack full of salt," he said.
"They are giving short-term commitments, but in the long term I think they are heavily orientated toward profitability, and not profitability through new research but profitability from cost cutting."
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