You are here

Pfizer in talks on $5 billion acquisition — media

By AFP - Aug 07,2022 - Last updated at Aug 07,2022

NEW YORK — American drug maker Pfizer is close to a deal to purchase Global Blood Therapeutics (GBT), which manufactures a recently approved drug against sickle-cell anemia, for $5 billion, the Wall Street Journal reported.

Pfizer, one of the top makers of COVID-19 vaccines, hopes to conclude talks with GBT within days, the newspaper said on Friday, citing people close to the negotiations.

But it said other takeover candidates remain in the running. 

GBT's sickle-cell treatment, marketed as Oxbryta, was authorised for those over 12 years old in 2019 but gained federal approval in December for children aged four to 11. The blood disorder affects millions.

Sales of Oxbryta helped the laboratory generate first-quarter turnover of $55 million (up 41 per cent), while the company registered a net loss of $81.4 million.

GBT, which is based in San Francisco, California, is to publish its second-quarter numbers on Monday.

Pfizer, for its part, saw its second-quarter turnover jump by 47 per cent — to a record $27.74 billion — boosted by sales of its COVID vaccine and pills.

Its net profit soared by 78 per cent, to $9.9 billion.

GBT shares on the New York Stock Exchange were up 33.03 per cent at the close on Friday, at $63.84, for a market capitalisation of more than $4 billion.

Pfizer shares slipped by 1.18 per cent, to $49.27.

11 users have voted.


Get top stories and blog posts emailed to you each day.