Pfizer buys biopharmaceutical Global Blood Therapeutics for $5.4 billion
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The American pharmaceutical company Pfizer buys drug developer Global Blood Therapeutics (GBT), informs Pfizer press office. The transaction amount will be $5.4 billion ($68.5 per share).
GBT is developing drugs, one of which is Oxbryta for the treatment of sickle cell anemia. The tablets were approved in 2019 in the US, European Union, UAE, Oman and the UK.
“Sickle cell anemia is the most common inherited blood disorder, and it disproportionately affects people of African descent. We are excited to welcome colleagues from GBT to Pfizer and work together to make a difference in patients’ lives as we have long strived to meet the needs of this underserved community,” said Albert Burla, Chairman and CEO of Pfizer.
The companies will now wait for approval from regulators and GBT shareholders. Pfizer’s financial advisors for the deal were Morgan Stanley & Co. LLC and Goldman Sachs & Co. LLC, and Wachtell, Lipton, Rosen & Katz acted as legal advisor. JP Morgan Securities LLC and Centerview Partners LLC became GBT’s financial advisors on the deal, Cravath, Swaine & Moore LLP and Goodwin Procter LLP were legal advisors, the report says.
Earlier in August, it was reported that Pfizer start negotiations for the purchase of GBT. The company was ready to conclude an agreement before, but other applicants for the purchase of GBT were still discussing the deal.
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