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.<…