Pfizer finalizes acquisition of Global Blood Therapeutics 

In August, Pfizer (NYSE:PFE) announced its plan to acquire Global Blood Therapeutics (GBT) for $68.50 per share, or roughly $5.4 billion.

Today, the company announced that it had finalized the acquisition, giving it access to GBT’s portfolio of drug candidates for sickle cell disease (SCD).

The GBT acquisition also adds Oxbryta (voxelotor), a novel sickle hemoglobin inhibitor, to its portfolio. Oxbryta has won marketing approval in the U.S., the European Union, United Arab Emirates, Oman and Great Britain.

In 2021, Oxbryta generated $194.7 million in sales, representing a 57% year-over-year increase.

GBT won Orphan Drug and Rare Disease designations from FDA for GBT021601 (GBT601) and inclaclumab, respectively.

Pfizer has developed therapies for rare hematologic diseases for three decades.

The company has been on a spending spree of late.

In March, Pfizer wrapped up a $6.7 billion acquisition of Arena Pharmaceuticals. Two mont…

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Pfizer to scoop up Global Blood Therapeutics for $5.4 billion 

After a banner year in 2021, Pfizer (NYSE:PFE) is on a spending spree. The company plans to acquire Global Blood Therapeutics (GBT) (Nasdaq:GBT) for $68.50 per share. The total sale price of acquisition, if it moves forward, would be roughly $5.4 billion.

Global Blood Therapeutics’s therapeutic focus is primarily on sickle cell disease.

In March, Pfizer finalized the $6.7 billion acquisition of Arena Pharmaceuticals. The company announced in May that it planned to acquire migraine drugmaker Biohaven Pharmaceuticals for $11.6 billion.

Pfizer completed the acquisition of privately-held ReViral in June.

The centerpiece of the acquisition

GBT has developed Oxbryta (voxelotor), a novel sickle hemoglobin inhibitor that won FDA approval in November 2019. In addition, the drug has scored approval in the European Union, United Arab Emirates, Oman and Great Britain.

Voxelotor binds to hemoglobin and stabilizes red-blood cells in an oxygenated state.<…

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