New Tool: ProSource
Checkout our packaging and processing solutions finder, ProSource.
Start Your Search

Pfizer to Buy Global Blood Therapeutics for $5.4B

COVID-19 success has allowed Pfizer to make aggressive acquisition moves to expand its portfolio.

Pfizer

It’s no secret that Pfizer capitalized on the COVID-19 pandemic, by loading people with vaccines and their pockets with cash. Now, according to a recent FiercePharma article, the company is putting that money to good use. Last Monday, Pfizer announced plans to buy Global Blood Therapeutics, a sickle cell disease-focused biotech company. Pfizer will pay $68.50 a share for the acquisition, which comes out to $5.4 billion.

Global Blood Therapeutics’ main product is Oxbryta, which was approved to treat sickle cell disease in 2019. In the first quarter of 2022, the drug generated $55 million in revenue. The company currently has two other sickle cell drugs, inclacumab and BGT021601, both of which are in testing.

Discover Our Content Hub
Access Healthcare Packaging's free educational content library!
Unlock Learning Here
Discover Our Content Hub
Test Your Supply Chain Smarts
Take Healthcare Packaging's supply chain quiz to prove your knowledge!
Take Quiz
Test Your Supply Chain Smarts