Purchased by Pfizer for $5.4 billion is Global Blood Therapeutics

1 min read

In a transaction announced today, Pfizer will acquire a biopharmaceutical business that creates novel therapies.

The pharmaceutical giant’s most recent significant purchase is the producer of Oxbryta, one of the few medications authorized by the Food and Drug Administration for the treatment of sickle cell anemia.

Arena Pharmaceuticals, a company that specializes on immune-inflammatory illnesses including Crohn’s disease, received a $6.7 billion award from Pfizer in March.

It most recently paid $11.6 billion to buy Biohaven Pharmaceutical Holding, a company that makes acute migraine medications.

In 2021, Oxbryta’s net sales to GBT were about $195 million. According to a news release, Pfizer anticipates that it and related drugs that the business is developing may generate combined global sales of more than $3 billion.

According to the terms of the agreement, Pfizer will pay $68.50 per share in cash. This is an increase of 42.7% from Thursday’s closing price and 7.3% from the GBT’s closing price on Friday, which was before the Wall Street Journal’s story that the two businesses were in merger talks. On Monday, shares increased 4.3% to $66.60.

You May Also Like

More From Author

+ There are no comments

Add yours