Pfizer buying Global Blood Therapeutics in $5.4B deal

By AP News

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Pfizer is buying sickle cell drug maker Global Blood Therapeutics in an approximately $5.4 billion deal as it looks to accelerate growth after its revenue soared during the pandemic.

Pfizer is buying sickle cell drug maker Global Blood Therapeutics in an approximately $5.4 billion deal as it looks to accelerate growth after its revenue soared during the pandemic.

GBT is the developer of Oxbryta tablets, which directly targets the root cause of sickle cell disease. Oxbryta sales were about $195 million last year.

Pfizer will pay $68.50 per share in cash for each GBT share.

Both companies' boards have approved the deal, which still needs regulatory approval and approval from GBT shareholders.

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Author: AP News

This article does not provide any financial advice and is not a recommendation to deal in any securities or product. Investments may fall in value and an investor may lose some or all of their investment. Past performance is not an indicator of future performance.

Originally published by Associated Press Valuethemarkets.com, Digitonic Ltd (and our owners, directors, officers, managers, employees, affiliates, agents and assigns) are not responsible for the content or accuracy of this article. The information included in this article is based solely on information provided by the company or companies mentioned above.

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